• Arbitration is a formal dispute resolution process, which is governed by legislation.
• An independent party (the arbitrator) is referred a dispute for determination
• Arbitration is more flexible than litigation in that the processes followed can be tailored to the dispute, based on the size and complexity of the dispute.
• The decision of the arbitrator, known as an Award, is enforceable in a similar way to a Court order and is binding on both parties
• Awards are more effective than Court judgments in that they may be enforced globally.

Nominate arbitration as the preferred dispute resolution procedure at the time of entering into your contract. You may also wish to nominate your arbitrator as we have suggested.

Examples of some suitable clauses are:

“Any dispute or difference whatsoever arising out of or in connection with this contract shall be submitted to arbitration in accordance with, and subject to, The Institute of Arbitrators & Mediators Australia Rules for the Conduct of Commercial Arbitrations’. Steve White shall be the Arbitrator.”

OR

“Any dispute or difference whatsoever arising out of or in connection with this contract shall be and is hereby submitted to arbitration in accordance with, and subject to, the UNCITRAL Arbitration Rules. Steve White shall be the arbitrator, the language of the arbitration shall be English, the place of the arbitration shall be (nominate city).”

• Select an arbitrator with expertise in the subject matter of the dispute, if you have not specified a particular arbitrator in your agreement.
• Attend a preliminary conference with the parties and arbitrator to agree on the procedural steps for the arbitration.
• Conduct the arbitration
• Arbitrator notifies the parties of the award (decision)
• Parties comply with the arbitrator’s award or Parties enforce award in the Courts in the appropriate country (if required).