Arbitration

Arbitration

Listening to both sides of the argument

An arbitrator has statutory powers to prescribe a timetable for the process, to cap recoverable costs and to progress a case in the face of an uncooperative party.

In order for an arbitrator to have jurisdiction to settle a dispute, there needs to be an arbitration agreement between the parties.  This is frequently an existing contractual provision but where that does not exist, an arbitration agreement can be put in place between the parties at any time.

The benefits of arbitration are:

• The parties can establish the procedures to follow
• For more straight forward matters, it can proceed by way of written representations, avoiding the cost of a hearing.
• Recoverable costs can be capped
• The arbitrator is experienced in the field
• The process is confidential, unlike a court
• The outcome is binding on the parties

At GSC Grays, we believe that there is scope for more widespread use of arbitration, as a way of providing a cost-effective and specialist means of resolving your dispute, based upon the evidence which you make available.