Dispute Resolution Flashcards
1
Q
What is Arbitration
A
- Governed by Stat Framework
- Evidence Submitted and Reviewed by Both Parties
- Arbitrator Makes Decision
- CAAV/RICS Can Appoint
2
Q
What is Mediation
A
- Negotiation Facilitated by 3rd Party
- Neutral Location
- Enhanced Negotiation
- Decision is Final & Binding
3
Q
What is the Arbitration Legislation
A
Arbitration Act 1996
4
Q
What is Expert Witness
A
- Analysis & Insights on Case Provided by Expert
- Evidence Given at Hearing
- Must be Objective
5
Q
What is Negotiation
A
- Voluntary
- Non-binding
- No 3rd Party Involvement
- Without Prejudice
6
Q
What are 4 Key Types of Dispute Resolution
A
- Mediation
- Arbitration
- Expert Witness
- Negotiation
