What is arbitration?
Arbitration can be used as an alternative to traditional dispute resolution. arbitrator can be used in certain cases so that you and the other party involved don’t have meet again to resolve the issue.
Arbitration is a method of settling disputes without going to court. The claimant is you, and the respondent is the other party. Both you and the respondent present your case to an impartial person called an arbitrators. The arbitrator listens carefully to both sides and reviews the evidence submitted. He or she then decides the outcome. Sometimes, the arbitrator might choose to meet with both you and your conveyancing lawyer.
The arbitrator’s decision is known as an award. It is legally binding. You can’t appeal the decision if you disagree with it.
Many trade associations offer arbitration through a code. This will help you to settle your problem and arrange for an arbitrator. You can also apply if the trade association does not offer an arbitration program.
The Chartered Institute of Arbitrators (Scottish Branch) can accept your application for arbitration. You will not be allowed to submit your business application unless you pay the fee plus VAT. The application form will list the amount of the fee.
If you win the case, the initial fee may be refunded to you.
What is the role of an arbitrator?
The procedure is laid out by the arbitrator so that each side can submit its evidence and tell their story. Each side will have an opportunity to respond.
The arbitrator collects all evidence from both the claimant as well as the respondent. The arbitrator considers the complaint official permission solely on the written claim and any supporting evidence. Sometimes, the arbitrators may ask you to provide additional details. In a consumer case, an arbitrator might visit you to inspect the goods and services you are complaining about.
The arbitrator can meet with you and the other party if the case is complicated and there isn’t enough written evidence to determine the outcome. The arbitrators will decide the best way to collect all the necessary information to reach a decision.
An arbitrator may ask a technical expert for assistance in making a decision or to give a report on the claim. The expert’s report will be sent to you and the trader.
What is the time frame?
You should usually hear the decision of the arbitrator within 45 days after the hearing is closed. This timeframe is typically agreed upon between the arbitrator, you and the other party.
You may have been given deadlines if there were meetings between the arbitrators, both parties, to discuss some of the issues. These deadlines should not be ignored.
Each party will be given a copy. It will include details about any compensation and the reasons for the decision.
If you win, the case will be yours Arbitrator
The arbitrator issues a decision at the conclusion of the case. Arbitrators can also decide that the fee for filing the arbitration claim should be paid by the other party. This must be agreed upon the appointment of an arbitrators.
Any interest earned on the claim may be yours. These interest payments will be made from the date of the award to the date that the money is actually paid.
You can register the award in court. Then you can force the other party pay any money owed to you.
You can lose the case
It’s difficult to appeal a decision made by the arbitrators if you lose the case. If you disagree with the decision, you can’t appeal.
You should seek advice if you feel the case was not handled correctly. A point of law may allow you to appeal to the court.
Except if a trade insurance association manages the arbitration scheme and pays for its work, you and the other party will be jointly and severally responsible for the fees and expenses of arbitration. These expenses will usually be agreed upon at the outset. If you and the other side agree, the arbitrators can allocate costs.