Arbitration is a contractually agreed method of dispute resolution. It is an alternative to litigation, and often the only means of recourse in international disputes for practical and commercial reasons.
Whilst arbitration is by its nature a flexible process – in larger disputes, arbitrations can often resemble formal court proceedings in its structure. For example,
- it is common to have the exchange of statements of case, which includes a claim, defence, and possibly counterclaim.
- there will then be time for evidence to be exchanged, possibly witness statements and then a hearing.
- at the hearing, there might be cross examination, expert evidence, and then a judgment at the end.
Arbitration was historically used to resolve commercial disputes by tribes, merchants and communities. At its most basic, it is the parties choosing an individual who they trust to render a fair judgment, which is based on basic good faith principles. This was attractive, as it resolved disputes quickly, which may take longer in local courts, and allowed the parties certainty to move on with their business. It is essentially a private method of justice.
These principles have been built upon considerably, and arbitration now is a very well established, and if necessary, sophisticated method of dispute resolution.
Whatever your Arbitration enquiry – our team has the expertise to help you. FWJ are experienced in helping clients domestically and internationally resolve their disputes through the use of Arbitration. No matter what your issues – call our team of experts today and we can help.