Question 1 Arbitration Advantages

Q1 ARBITRATION advantages part 1

• POINT NUMBER 1
• PARTIES HAVE CONTROL OVER
• 1. WHEN AGREEMENT IS MADE
• 2. PARTIES SELECT THE ARBITRATOR OR TRIBUNAL
• 3. SELECTION MAKES PROCESS FUNDAMENTAL TO
• SMOOTH
• EFFICIENT OPERATION
• 4. PARTIES MAY CHOOSE ARBITRATOR
• 4. A who is EXPERT IN FIELD OR SUBJECT MATTER OR DISPUTE
• REASON WHY COMMERCIAL CONTRACTS DO THIS

Q1 Arbitration Advantages part 1

• 4. B EXPERT APPOINTED ASSURES PARTY THEY HAVE KNOWLEDGE OF INDUSTRY
• 4.C THEY WILL POSSESS IN DEPT KNOWLEDGE
• 5. THE POSITIVE EFFECTS ARE
• A DECISION MADE REFLECTS INDUSTRIES BEST PRACTICES AND EXPECTATION
• B EXPERTS IN THE FIELD HAVE KNOWLEDGE LAWYERS AND JUDGES HAVE TO FIMILIARIES THEMSELVES
• C IF MORE THAN 1 THERE IS MORE KNOWN IN FIELD TO BE MADE ON DECISION
• D IN ARBITRATION THERE IS NO LISTING SYSTEM AND BACKLOGS LIKE IN NORMAL COURT SYSTEM

Q1 Arbitration Advantages part 2

• parties determine the
• law
• structure
• procedures
• and power of the arbitrator
• parties may control all aspects of the arbitration
• feel less injustice when decisions dont go there way
• because there the ones who designed it
• model law give parties scope on how the arbitration is conducted
• failure to design arbitrator or tribunal will choose procedure

arbitration advantages part 2 where

• parties have power to select where the country which in
• turn decides the national laws in that country and
• there proceedings the court in that jurisdiction will
• preform a supervisory role example if in DUBLIN
• ARBITRATION ACT 2010 WILL APPLYHelpful for
• international companies they can avoid nuance
• countries with particular laws this provides certianty for companies that operate globally
• parties can select
• time
• place
• and procedure
• costs involved

Arbitration advantages part 3

• ARBITRATION IS USUALLY CONDUCTED IN PRIVATE
• WHICH AVOID RISKS OF
• REPUTATIONAL DAMAGE
• COMMERCIAL DAMAGE
• CONCEAL CONFIDENTIAL INFORMATION
• CONCEAL SENSITIVE INFORMATION
• SUCH INFORMATION IN UK OF CONFIDENTIALITY MATTERS IS A MATTER OF LAW RATHER THAN ARBITRATION
• THIS IS UNDECIDED IN IRELAND
• OXFORD SHIPPING Co ltd V nippon yussen Kaisha 1984
• MR justice LEGGAT EXPLANATION FOR OBLIGATION OF CONFIDENTIALITY
• THAT CONFIDENTIALITY IN ARBITRATION STAYS IN ARBITRATION
• OTHER CASES EMERGED EXCEPTIONS TO THE OBLIGATIONS OF CONFIDENTIALITY LOOK AT NEXT PAGE

Q1 ARBITRATION advantages PART 3

• EXCEPTION OF OBLIGATIONS OF CONFIDENTIALITY
• 1.
• PARTY IN ARB CAN WAIVE ITS RIGHTS.
• 2.
• DOCUMENTATION CAN BE ORDERED TO BE DISCLOSED BY COURTS.
• 3.
• PARTIES CAN CHALLENGE AWARD AND RATIONAL OF AWARD THROUGH THE COURTS
• ALL INFORMATION, PLEADINGS, SUBMISSIONS CONSIDERED WOULD HAVE TO BE DISCLOSED
• 4.
• also PARTIES may DISCLOSE INFORMATION IT OBTAINED TROUGH the arbitration process
• like competitive information eg auditing or companies affairs
• the reason for this is that the company found a legal cause of action or ability to defend its claims
• 5.
• IN UK london and estates LTD V paribas ltd 1995
• decided if information is in the public interest or in the interest of justice should be disclosed

Q1 Arbitration advantages PART 4

• 4. Arbitration result is binding
• Model law in arbitration Act 2010 provides limited opportunity for a challenge on award