Five Facts About Arbitration That Will Surprise You
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Published by TOP4 Team
When parties in conflict prefer to stay out of court and yet have an impartial third party to decide the outcome of the dispute, arbitration is almost always the first choice. However, although most people have a general idea how it works, there are a few details that can come as a surprise, even to those who are relatively familiar with the process.
1. Successful Arbitrations Start with a Well-Constructed Contract
If and when arbitration is needed, it has a better chance of succeeding when disputes are anticipated and attention is paid to how to best resolve those disputes in drafting a contract. Efficient, cost-effective arbitrations begin when the contract is negotiated because the process is partly controlled by how a contract is worded. Details about it in a contract might include the venue, the length of discovery, and the administrative rules that will govern the process.
2. Disputing Parties Have Options
Once a dispute breaks out, details concerning the arbitration can possibly be changed, even if they are already provided in the contract. The administrator of the arbitration, the number of arbitrators participating, the scope of discovery, the manner in which arbitrators are appointed, and various details of the fee-shifting provision are examples of changes that can be made.
3. Evidence in Arbitration Might be Given Unequal Weight
During the process, an abundance of evidence will not ensure that the professional arbitrator will rule in favour of one party over the other, because they react to the quality, not the quantity, of the evidence. Disputing parties and their legal representation can expect arbitrators to read and listen to all evidence, but it is important to determine in advance what they anticipate will be given more weight.
In order to increase the likelihood of a successful outcome, as well as to save valuable time, it is important to make careful decisions about documents and witnesses. In order to help the arbitrator understand where to place the most focus and what to consider not as essential to determining the outcome, it is also beneficial to identify which evidence is secondary. You can really help your case by taking the reins on your own behalf at this juncture.
4. Neutrality is Essential when Choosing an Arbitrator
The most important part of the process is choosing the arbitrator. Find someone who is has a reputation for being fair and is familiar with the law and your specific type of dispute.
5. Appealing the Outcome is a Limited Option
The agreement to arbitrate may provide for appeal on such grounds as the parties provide. Otherwise, the appeal right is very limited.
If you are looking for the best arbitrator in Sydney, consult ArgyStar.com today!