Advantages & Disadvantages of Arbitration Flashcards
1
Q
Adv - Own Arbitrator
A
- Parties can pick their own, and therefore decide whether the matter is best dealt with by a technical expert, lawyer or pro arbitrator.
2
Q
Adv - Legal Expert
A
- If there’s a question of quality, it can be decided by an expert in a particular field, saving the expense of calling expert witnesses.
- Also, it saves time explaining all legal technicalities to a judge.
3
Q
Adv - Hearing
A
- The hearing time and place can be decided where and when by both parties.
4
Q
Adv - Procedure
A
- Procedure is flexible and parties can choose which is most suited to situation, this will usually result in a more informal and relaxed hearing than in court.
5
Q
Adv - Matter
A
- Matter is dealt with in private and therefore there is no publicity involved.
6
Q
Adv - Speed
A
- Dispute will be resolved more quickly than through a court hearing.
7
Q
Adv - Cheapness
A
- Proceedings are a lot more cheaper than going to court.
8
Q
Adv - Award
A
- Normally a final decision and can be enforced through the courts.
9
Q
DisAdv - Legal Points
A
- Unexpected legal points may arise in the case which is not suitable for decision by a non-legal arbitrator.
10
Q
DisAdv - Pro Arbitrator
A
- If a pro arbitrator is used, it is likely that his fees are going to be expensive.
11
Q
DisAdv - Expense
A
- Expensive if the parties opt for a formal hearing, with witnesses giving evidence and lawyers representing both sides.
12
Q
DisAdv - Appeal
A
- The rights of appeal are limited, therefore there is little chance for a turnover in decision.
13
Q
DisAdv - Delay
A
- Commercial and international arbitration may be nearly as long to wait for as court proceedings if pro arbitrator and lawyers are used.
- Therefore, people turning to alternatives like Centre for Dispute Resolution or having matters solved in other countries - mainly due to cost and delay.
