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Arbitration is a legal process which allows the parties to settle disputes outside of a court setting. The parties involved appoint one or more persons (the arbitrator) by whose decision they agree to be bound.
Any dispute may be arbitrated, however it will be most effective where other forms of dispute resolution such as collaboration or mediation, are inappropriate. Specific examples of such disputes include:
Arbitration does come with certain advantages. The parties can select an arbitrator of their choosing, with relevant expertise. The process provides a faster, more flexible alternative to court proceedings that can be tailored towards a focused resolution to the particular issue in dispute. This has the potential to be a lot less costly for the parties. The process is also confidential, therefore proceedings are not reported to the public.
At Munro & Noble, our role in guiding you through the arbitration process is not unlike how we would prepare you for court proceedings. We can help to focus you on the relevant issues and identify the information required. We want to get the best result for you, in the most amicable way possible.