Arbitration is a quasi-judicial procedure for the settlement of disputes where an independent third party – an arbitrator – with the agreement of both parties delivers an award that is binding. This is either following a hearing or after reviewing relevant documents.
The advantages of arbitration:
- It is a confidential process
- It can be quicker and cheaper than going to court, particularly when one of the available Short Procedures can be agreed between the parties
- Unlike Judges, arbitrators are chosen for their expertise in a particular field
- An award is binding and enforceable through the courts
- Arbitration awards can include the recovery of party costs
For further information on resolving your dispute by arbitration contact Bob Juniper on 01206 751284