Arbitration is often used when negotiation fails. Warring sides, whether they are spouses in the middle of a divorce or a labor union demanding changes from an employer, may quickly come to a stalemate or series of heated conflicts that result in no progress. The job of the arbitrator is us...
Virtual Arbitration FAQs Types of Arbitration What is a High-Low Arbitration? Also known as Bracketed Arbitration. This is an arbitration wherein the parties have agreed in advance to the parameters within which the arbitrator may render his or her award. If the award is lower than the pre-se...
Arbitration is a contract-based form of binding dispute resolution. In other words, a party’s right to refer a dispute to arbitration depends on the existence of an agreement (the “arbitration agreement”) between them and the other parties to the dispute that the dispute may be referred to...
In arbitration, the arbitrator plays a direct role in determining the outcome of the dispute, similar to a judge in a court of law. This process is governed by rules that may be predetermined by the parties or by an arbitration institution. Conversely, in conciliation, the conciliator's role...
Arbitration cases take place in closed tribunals. The tribunal allows both sides of the case to be heard before the arbitrator who then makes a binding decision (known as an ‘award’). There is usually either one sole arbitrator or three arbitrators at a tribunal, who are appointed by the...
Arbitration is often chosen in an effort to reducelegal costs. However, careful consideration is required to determine whether it is the most beneficial option for a specific legal case. Legal costs can also be more expensive, depending on how much time the Arbitrator has to spend on the case...
In case no agreement can be reached, neither party can force the other to submit to arbitration. However while resorting to litigation, the plaintiff may take a unilateral action against the defendant without agreement between the two parties in advance.a) The arbitration organization is not an ...
Arbitration is not the same as filing an investor complaint, in which an investor alleges wrongdoing on the part of a broker, but has no specific dispute with that broker, for which the investor seeks damages. How Arbitration Works In practical terms, arbitration is similar to alawsuitbut may...
The Essential Judge: the Role of the Courts in a System of National and International Commercial Arbitration ARBITRATION IS the process through which a neutral third party, not a court, adjudicates a dispute and renders a legally binding decision. Because arbitrations take place outside the ...
9. What is the force of an arbitration award and who will bear the arbitration fee? 1.The arbitral award once made has the force of law, and it is final and binding on both parties. Either party should recognize and enforce the arbitral award and could not appeal to the court to revis...