adjudication Flashcards
1
Q
what does adjudication involve?
A
neutral 3rd party, agreed process, decision
2
Q
when is adjudication most appropriate?
A
specialist commercial field
3
Q
how is it agreed?
A
binding form, commercial contract
4
Q
how does the process happen?
A
decided in advance, person/body providing adjudication
5
Q
elements of the process?
A
simpler form of arbitration, may lead to binding decision
6
Q
potential benefits of adjudication?
A
adjustable to commercial needs, more flexible and cheaper than arbitration
7
Q
cons of adjudication?
A
not necessarily cost effective, non binding decision may lead to litigation or arbitration
