Arbitration

Question 1

What is Arbitration?

Answer 1

Form of ADR, a third party who settles a binding dispute outside of court terms

Question 2

What act is Arbitration governed by?

Answer 2

Arbitration Act 1996

Question 3

What is an arbitrator?

Answer 3

Neautral third party who decides a dispute

Question 4

What does the arbirtator have power to do?

Answer 4

Award costs

Question 5

What are the benefits of arbitration?

Answer 5

1. fast
2. cost effective
3. private and confidential

Question 6

Can arbitrators be sued for negligence?

Answer 6

No but there are 3 grounds for an appeal:

1. jurisdiction
2. points of law
3. serious irregularity

Question 7

What must be done in order to arbitrate?

Answer 7

parties must enter into the agreement

Question 8

Is it binding?

Answer 8

A binding agreement must be reached to to escalate the matter to arbitration.

Question 9

How is arbitration reached?

Answer 9

Must be genuine dispute

Binding agreement must be reached to escalate to arbitration

Question 10

Does an arbitrator require an expert opinion?

Answer 10

No - they decide off evidence provided by parties ONLY

Question 11

What MUST an arbitrator do?

Answer 11

give a costs reward

Question 12

What does section 5 of the Arbitration Act 196 state?

Answer 12

That all agreements must be in writing