Arbitrators

 

Arbitrators are individuals who fulfil the deciding role in an arbitration dispute resolution and make up an arbitration tribunal. The arbitrators are usually knowledgeable not only in law, but also in the specific area or industry which the dispute is regarding.

Arbitrators are chosen by both parties to a dispute, under the terms and conditions agreed upon in the arbitration contract. For example, if an arbitration contract states that the tribunal will be made up of three arbitrators it is commonly decided that each party selects one arbitrator and the third is jointly appointed. The benefit of this process over a litigation process is that although court judges are experts in the law, they are not often experts in other industry-specific matters. Also, because the parties are not able to choose a judge a litigation argument will have to include an introductory explanation of the issue in dispute. With arbitrators, both parties are able to avoid this by appointing individuals who are already familiar with the details of their specific industry. This allows the process to be much simpler, and therefore quicker and more cost-effective.

Arbitrators are paid by the parties in disputes. By law, they are permitted to withhold their judgement until they have been fully compensated. This is one of the few mandatory sections in the Arbitration Act and is intended to avoid the situation where the unsuccessful party refuses to pay the arbitrator.

If you are about to begin arbitration it is important to carefully consider who you will be appointing as arbitrators. If your appointee does not have the requisite understanding of the subject matter in dispute you may be missing out on one of the main advantages of the arbitration process.

If you would like to obtain legal advice on arbitrators, Caven can put you in touch with a local arbitration solicitor free of charge. So, if you have any questions or would like our help in finding local arbitration solicitors please call us on 08001 221 2299 or complete the web-form above.

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