Arbitration

Mature Lawyer Or Notary With Clients In His Office In A MeetingArbitration is, at its simplest, a proceeding where a dispute is resolved by an impartial adjudicator – a person who will not be affected by the outcome and can hold no bias or prejudice towards any of the parties concerned.

Arbitration is an alternative form of dispute resolution (ADR) and can either be voluntary or mandatory, and binding – where all parties agree to be bound to the outcome – or non-binding, where the decision cannot be legally imposed.

There are both advantages and disadvantages to using arbitration.

Pros

  • Arbitration is almost always cheaper and quicker than going to court
  • If the dispute is highly technical, you can use an expert adjudicator
  • Arbitration can generally be kept confidential

You can choose the language in which all communication will take place. This is useful if arbitration breaks down and the case goes to court in a country that does not use your first language (although translators can be provided)

Cons

  • The party who is considered to be in the wrong may have to bear the cost of the whole proceeding. This is rare, but still possible.
  • Depending upon the type of arbitration, the outcome can be difficult to enforce

Let’s now look at consensual resolutions:

  1. Mediation
  2. Collaborative Law
  3. Conciliation

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