Arbitration is an adversarial process that avoids the higher costs of litigation
Arbitration is an adversarial dispute resolution process that produces a binding award that is enforceable by an application to the court by the successful party. Arbitration takes place under the Arbitration Act 2010 where there are very limited grounds on which an arbitrator’s award can be appealed or set aside. Arbitration can only take place if both parties have agreed to it. Arbitration can deliver high quality justice, in private with flexibility, whilst avoiding the emphasis on procedural matters applicable to litigation through the courts.
The arbitration process usually takes longer than adjudication but is shorter and less costly than litigation. Both parties are free to choose their own arbitrator who will typically be selected because of their specific technical expertise which is relevant to the case, helping to ensure a better quality decision. It is said that arbitration is best suited to complex, high-profile, high-value cases with an international dimension. In most cases the lower cost and lesser necessary technical involvement offered by other dispute resolution methods will usually be more appropriate.
Resources
UNCITRAL – Arbitration Rules (as revised 2010)
UNCITRAL – Convention on the Recognition and Enforcement of
Foreign Arbitral Awards 1958
UNCITRAL – Guide to the New York Convention of Enforcement of
Foreign Arbitral Awards 2016
UNCITRAL – Model Law on International Commercial Arbitration with 2006 amendments
“Arguing with somebody is never pleasant, but sometimes it is useful and necessary to do so.”
Lemony Snicket, pen name
of Daniel Handler, novelist