Agreement
Initiation
Planning
Hearings
Deliberation
Award
Definition: Arbitration is a method of dispute resolution where a neutral third-party, called an arbitrator, is appointed to resolve a dispute privately, outside of court. Significance: Offers a confidential, potentially quicker, and more flexible alternative to litigation.
Notice of Arbitration: A party initiates the process by submitting a Notice of Arbitration, detailing the nature of the dispute and the relief sought. Response: The opposing party provides a response, possibly including counterclaims, within a specified timeframe.
Selection Process: Parties either agree on a single arbitrator or, if no agreement is reached, an appointing authority might intervene. In some cases, a panel of three arbitrators might be chosen.
Impartiality: Appointed arbitrator(s) provide a declaration of impartiality, ensuring no conflicts of interest.
Initial Setup: An initial meeting sets the procedural rules, scope, and timeline for the arbitration.
Interim Measures: Temporary measures, if needed, are established to maintain the status quo.
Response: The respondent can provide an adjudication response, detailing reasons for withholding payment or disputing the claimed amount. Claimant’s Reply: If permitted, the claimant can submit a reply to the respondent’s response.
Documentary Evidence: Relevant documents supporting claims are submitted.
Witness and Expert Reports: When applicable, statements from witnesses and expert opinions are exchanged.
Presentations: Parties present arguments before the arbitrator(s).
Witness Examination: Witnesses can be examined and cross-examined.
Evidence Review: Arbitrator(s) scrutinize the submitted evidence.
Analysis: Arbitrator(s) review all materials and discussions.
Consultation: If multiple arbitrators are involved, they might convene for deliberation.
Decision: A written decision, or “award”, is provided, detailing the arbitrator(s) conclusions and any necessary remedies. Compliance: Parties are expected to adhere to the award.
Upholding the Award: If non-compliance occurs, the award can be enforced, often through national courts. Contesting: On specific grounds, a party might challenge the award within a limited timeframe.
Conclusion: The arbitration process concludes once the award is upheld, challenged, or any subsequent steps are exhausted. Post-Arbitration Confidentiality: All information remains confidential unless parties agree otherwise or disclosure is required by law.