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Arbitration is a formal method of alternative dispute resolution (ADR) involving a neutral third party who makes a binding decision. The third party neutral (the 'arbitrators', 'arbiters' or 'arbitral tribunal') render the decision in the form of an 'arbitration award'. An arbitration decision or award is legally … See more
Parties often seek to resolve disputes through arbitration because of a number of perceived potential advantages over judicial proceedings. Companies often require arbitration … See more
By their nature, the subject matter of some disputes is not capable of arbitration. In general, two groups of legal procedures cannot be subjected to arbitration:
• Procedures … See moreNations regulate arbitration through a variety of laws. The main body of law applicable to arbitration is normally contained either in … See more
The arbitrators who determine the outcome of the dispute are called the arbitral tribunal. The composition of the arbitral tribunal can vary enormously, with either a sole arbitrator sitting, two or more arbitrators, with or without a chairman or umpire, and various … See more
Arbitration agreements are generally divided into two types:
• Agreements which provide that, if a dispute should arise, … See moreHistory
The United States and Great Britain were pioneers in the use of arbitration to resolve their differences. It … See moreThe definition of Arbitral Award given in sec 2(1)(c) is clearly not exhaustive. It merely points out that an Arbitral Award includes both a … See more
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