Frequently Asked Questions

What is arbitration and how does it work?

Arbitration is a private process where disputing parties agree that one or several individuals can make a decision about the dispute after receiving evidence and hearing arguments. It’s therefore a form of alternative dispute resolution.

What is an arbitrator?

An arbitrator is a professional in arbitration.

Why opt for arbitration?

Arbitration can usually be completed more quickly and is less formal compared to a traditional trial. Furthermore, both the dispute and the resolution can be kept confidential.

How to select an arbitrator

At a minimum, all arbitrators must be:

• Independent to the parties to the dispute; and
• Impartial with respect to the subject matter of the dispute.

Parties should also find international arbitrators who:

• Have significant prior experience in international arbitration, ideally as an arbitrator;
• Are fluent in the language of the arbitration;
• Have knowledge of the substantive law at issue;
• Have knowledge of the applicable arbitral rules;
• Have knowledge of the specific field in dispute for highly technical matters;

How do you become an arbitrator?

There are 4 basic requirements for becoming an arbitrator, these include:

• A bachelor’s degree
• A graduate degree (e.g. JD)
• A license relevant to the state or field of expertise (e.g. state bar)
• Legal work experience

How is arbitration different from mediation?

Arbitration is different from mediation because the neutral arbitrator has the authority to make a decision about the dispute.

How is arbitration different from litigation?

Arbitration is different from litigation because the settlement between parties takes place outside of the court unlike a lawsuit.

Is arbitration binding or non—binding?

The arbitration process may be either binding or non-binding. When arbitration is binding, the decision is final, can be enforced by a court, and can only be appealed on very narrow grounds. When arbitration is non-binding, the arbitrator's award is advisory and can be final only if accepted by the parties.

What is an arbitration award?

An arbitration award is the decision by a tribunal on an arbitration case.

What is an arbitration tribunal?

An arbitration tribunal is a panel of one or more adjudicators which is convened and sits to resolve a dispute by way of arbitration.

What is an arbitration centre or institute?

An arbitration centre or institute is a body for the administration of arbitration cases. There are many arbitration institutions, including international, national, regional and specialist arbitration centres.