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Sharann Posted 21 years ago
Legal Studies

Arbitration throughout the world

I'm a student in Law and I would like to know your point of view about the Arbitration. Do u think it can avoid to go to Court, does it really help each part of the contract? How is it going in your country? Does Lawyer use this usually in Commercial Case or in other branchs in Law?
  

Top answer

Arbitration is very useful if the parties have a dispute that does not involve difficult points of law, but rather disputes as to practical matters, for example whether a factory has been built in accordance with the specification or questions of valuation, such as the rent payable under a lease. The parties can choose as their arbitrator an expert in the field who understands the issues involved. They are also free to agree the procedure to be adopted to determine the dispute.

— Forbes

  • Arbitration is very useful if the parties have a dispute that does not involve difficult points of law, but rather disputes as to practical matters, for example whether a factory has been built in accordance with the specification or questions of valuation, such as the rent payable under a lease.
  • The parties can choose as their arbitrator an expert in the field who understands the issues involved.
  • They are also free to agree the procedure to be adopted to determine the dispute.
  • It is not always cheaper than going to court, but is usually quicker.
  • 1: (a) the object of arbitration is to obtain the fair resolution of disputes by an impartial tribunal without unnecessary delay or expense (b) the parties should be free to agree how their disputes are resolved, subject only to such safeguards as are necessary in the public interest; (c) …the court should not intervene except as provided …
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6 Answers
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Arbitration is very useful if the parties have a dispute that does not involve difficult points of law, but rather disputes as to practical matters, for example whether a factory has been built in accordance with the specification or questions of valuation, such as the rent payable under a lease. The parties can choose as their arbitrator an expert in the field who understands the issues involved.
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0 In our country we don´t use an arbitration, we use commercial courts.0-
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0The word arbitration is a noun which describes a process. 02br
00In the two examples shown below arbitration is being used in a general way so we don't use an article before the word and the word is not capitalised. 02br
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00This sentence:02br
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01i00"...I would like to know your point of view about the Arbitration.02i02
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I have come across contracts with arbitration clause. They also have the applicable law and area of jurisdiction clause. Since the parties have decided to go for arbitration, whats the need for mentioning jurisdiction?

Thanks,

Lawful Boy
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AnonymousI have come across contracts with arbitration clause. They also have the applicable law and area of jurisdiction clause. Since the parties have decided to go for arbitration, whats the need for mentioning jurisdiction?

Thanks,

Lawful Boy

Presumably so that it is known where the arbitration can be enforced.
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^ Also, arbitration must take place somewhere. Parties can agree upon where they want the dispute arbitrated and which laws/arbitration rules to apply.
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