adjudication

Question 1

what does adjudication involve?

Answer 1

neutral 3rd party, agreed process, decision

Question 2

when is adjudication most appropriate?

Answer 2

specialist commercial field

Question 3

how is it agreed?

Answer 3

binding form, commercial contract

Question 4

how does the process happen?

Answer 4

decided in advance, person/body providing adjudication

Question 5

elements of the process?

Answer 5

simpler form of arbitration, may lead to binding decision

Question 6

potential benefits of adjudication?

Answer 6

adjustable to commercial needs, more flexible and cheaper than arbitration

Question 7

cons of adjudication?

Answer 7

not necessarily cost effective, non binding decision may lead to litigation or arbitration