Arbitration A03 Flashcards
What are the 4 WDPs for the advantages of arbitration
Binding decision
Expertise of the arbitrator
Flexibility & privacy
Quicker and cheaper
+P1: Legally binding decision
outcome = effective resolution
+DP1: Can be enforced by the courts
decision can be relied upon rather than parties having to trust each other to stick to it
-WDP1: difficult to appeal
rights are more limited - award can only be challenged on a point of law or if a serious irregularity has occurred = restrictive
+P2: parties can choose their arbitrator
chose somebody who is specialised = more effective
+DP2: decision saves inconvenience of expert witness
saves time = advantageous to have the case dealt with more efficiently
-WDP2: Arbitrator may not be a legal expert
delay In reaching the decision if certain legal points arise - inconvenient
+P3: additional flexibility and ownership of the dispute for parties
can be scheduled to suit the parties needs and working commitments which isn’t possible with the civil courts = more convenient
+DP3: particularly beneficial for businesses who may not want disputes to be public
allows parties to remain on amicable terms and protects the reputation of the company and outside influence
-WDP3: closely resembles a formal trial
adversarial and daunting = dissuades parties = undermines the purpose of ADR
+P4: typically quicker and cheaper than the courts
wider accessibility = process is more effective and fit for purpose
+DP4: paper arbitration enables parties to submit their dispute in writing
more flexible and less daunting = dispute will be resolved quicker
-WDP4: selecting an expert arbitrator can be very expensive
increases risks involved in the process and also dissuades parties as it less accessible
