rdoc pt 2-arbitration

Question 1

who conducts arbitration?

Answer 1

one or more arbitrators

Question 2

what do the arbitrators do?

Answer 2

make a decision based on the parties submissions

Question 3

3 ways arbitration process can be decided?

Answer 3

agreed in advance by parties, arbitrator can decide, arbitration providers offer samples

Question 4

2 ways can arbitration be conducted?

Answer 4

hearing similar to trial or written submissions

Question 5

regulation of arbitration?

Answer 5

arbitration act 1996

Question 6

6 pros of arbitration?

Answer 6

select arbitrator, privacy, tailor process, select material, structured, simple and cost effective if written

Question 7

4 cons of arbitration?

Answer 7

hearing is expensive, bound by 3rd party decision=no control, non-co operative parties, select arbitrator with care