Features of Arbitration
Private proceedings as parties can/will sign a confidentiality agreement.
Parties control the forum and written procedures/rules to be used. Arbitrator can guide the parties on procedures to be used.
Expertise of the Arbitrator e.g. legal training – Solicitor or Barrister as Arbitrator.
Parties to the Arbitration agree on the chosen Arbitrator.
Faster than Court. Normally a few weeks for a hearing date in arbitration rather than months/years in a public Court.
The same remedies are available to Arbitrators as are available to Judges of the High Court e.g. Financial Compensation or Maintenance Awards, Property Division Orders, Injunctions, Costs, Specific Performance, Declarations and more.
Legally binding and enforceable Award made by the Arbitrator at the end of the arbitration.
More cost efficient than public Court proceedings due to the shorter time it takes from beginning arbitration to the end of the hearing. Also, the costs of the arbitration/Arbitrator are made available to the parties before the parties agree to proceed and are normally paid in advance by the parties. The parties to the arbitration are jointly and severally liable for the costs of the Arbitrator.
Costs follow the Event – where the successful party in the arbitration has legal representation the unsuccessful party usually pays those legal fees. Legal fees are different to the fees of the arbitration/Arbitrator. The arbitration/Arbitrator fees are paid by the parties at the outset of the arbitration.
Arbitration Awards cannot be appealed except in certain limited circumstances. The no appeal status of an arbitration Award stems from the agreed position of the parties at the outset of the arbitration to be bound by the decision of the arbitrator irrespective of any dissatisfaction on the part of either party with the decision of the Arbitrator. However the parties can agree at the outset if they wish to have a route to review or appeal the Arbitrator’s decision and so an “Appeal Arbitrator” may be appointed.
More relaxed rules of evidence.
Arbitrators do not have to apply case law precedents but rather their decisions are reached on the evidence presented during the arbitration process.
The Award made and drafted by the Arbitrator of his/her decision will unless the parties agree otherwise provide the reasons for the decision.
Arbitrators can draft an Award based on a settlement reached by the parties at any point during arbitration thus giving the parties the legally binding and enforceability features of an arbitration Award without a full arbitration hearing having proceeded.
Arbitration can be used without legal representation however in high risk or high value disputes legal representation is recommended.
There will be an “Equity Clause” in all arbitrations conducted by Arbitration Dublin.ie. An Equity Clause ensures that the decision of the Arbitrator is decided upon fairness more than on strict legal principles. The Arbitrator in Arbitration Dublin.ie will decide based on fairness.
To enforce the arbitration Award an application for “Leave to Enforce” will, just as with all High Court Orders, be made to the High Court.
