Topic 2 - What is Arbitration

Question 1

What is arbitration?

Answer 1

A voluntary system where the parties rely on the services of an arbitrator (an independent, fair and impartial third party)

Question 2

When may an arbitration be required?

Answer 2

• It may be chosen by the parties
• They may be referred to it by the court
• Statute may require it

Question 3

What does the arbitrator do?

Answer 3

They provide their decision and this is binding on the parties, although an appeal process applies