Conflict Avoidance, Management and Dispute Resolution Procedures Flashcards
Example of a conflict managed in your firm or you dealt with?
Fee share split with UK Industrial team. Compromise. Enlarge the pie rather than fighting for pieces of the pie.
What are the three main processes available when resolving disputes?
Negotiation, Mediation and Adjudication
What is mediation?
The use of a neutral mediator who facilitates discussions, it is a confidential and informal process and the mediators has no decision making authority.
What is arbitration?
An arbitrator has a quasi-judicial role, parties are bound by the decision, they will have special knowledge on the subject, they cannot be sued for negligence, surveyors can act as arbitrators if they pass an exam – ref to the Arbitration Act 1996 and Professional Standard ‘Surveyors Acting as Advocates’
What is independent expert determination?
An independent expert is appointed by the two parties, they have knowledge on the subject matter, parties are bound by the decision, they investigate and receive evidence from both sides and use their own opinion – RICS PROFESSIONAL STANDARD Independent expert
determination.
Are fees allowed for acting as an expert witness?
No, incentive (contingency) fees are not allowed – a success related fee would be inappropriate
What is early neutral evaluation?
Use of an independent person, experienced in the subject matter of the dispute, to investigate and give their non-binding opinion
What is a conflict?
Something which impedes your ability to act in the client’s best interest
What are the different types of conflict?
Personal interest, financial interest, commercial relationships, acting on both sides of a transaction
What are the three types of conflict of interest?
A ‘Party Conflict’, an ‘Own Interest Conflict’ and a ‘Confidential Information Conflict’
How do you undertake conflict of interest checks?
Use my firm’s internal database to search for previous involvement with the client and asset and send a department wide email to ensure no existing conflicts
What is ADR?
Alternative dispute resolution (ADR) means settling a complaint out of court with the assistance of an impartial dispute resolution body.
What are the benefits of ADR
Negotiation, speed, informality, cost, confidentiality and quality
What are the differences between arbitration and independent expert determination?
Both have decision making authority – an arbitrator reviews evidence presented by both parties, an IED undertakes own investigation and can be sued
How can conflicts be avoided?
Clear Terms of Engagement, regular communication, managing expectations, implementing early warning systems, keeping records
