Arbitration & Reconcilation

Arbitration is process settling a dispute between parties to a contract by a neutral third party without resorting to court action and would take place in the arbitral tribunal. This neutral third party is called arbitrator who would take the role of a judge. Arbitration, less formal procedure than litigation in court, is less time-consuming and inexpensive. Another advantage is an arbitrator with high degree of expertise can be chosen when the subject matter of the dispute is highly technical; for example, quantity surveying expertise, in the case of a construction dispute.

Depending on the size of the case, arbitral tribunal may consist one, two or three arbitrators and both parties to the contact are entitled to appoint their own arbitrator if they wish. The individuals such as lawyers, retired judges function as arbitrators who would offer services in their expertise area.

The arbitration process involves each side presenting their issue to the arbitrator in advance by use of a written memorandum allowing the arbitrator to comprehend it and after put their case with some rules of evidence once proceedings commenced. The arbitral awards are generally binding and considered to be fair since expertise involves in decision making.

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