Flashcards
ADR: Arbitration
Cards in this deck (3)
- 1What is Arbitration?This method is simular to ligiation, and is where evidence is presented to an arbitrator, usually a solicitor or barrister, in meetings or on the day of the hearing.
Based on what is presented to them, they will make what is called a "final award" which outlines who gets what out of the disagreement to settle it.
Arbitration is commonly referenced to as a method of resolution in a dispute resolution clause of many national and international contracts.
Arbitration is governed by the Arbitration Act 1996.
The final award will not be released by the arbitrator until they have been paid, and can be enforced by the High Court, or set aside on an application of a party. - 2What are the advantages of Arbitration?Experts can be used, as well as evidence can be presented to the Arbitrator.
The parties agree to be bound by the outcome of the decision.
specialists hear the case.
Cna prevents litigation altogether.
Provides commercial certainty much like a court hearing, since the decision is final, unless there is good reasoning for it to be set aside by the High Court.
Award can be enforced by the courts - 3What are the disadvantages of Arbitration?Can be just as expensive as litigation, and time-consuming.
(Think of some more)
Information
- Description
- Civil Litigation (3 - Alternative Dispute Resolution) Flashcards on ADR: Arbitration, created by James Dolton on 09/04/2019.
- Created by
- James Dolton
- Views
- 0
- Rating