Arbitration
Chamber International can help resolve issues where legal action would be costly, slow and damage relationships with clients. We can help to settle business disputes as independent arbitrators and provide a decision which is, in general, final and legally binding on both parties.
We recommend that traders consider the benefits of using Arbitration systems in both home and international trade as a more cost effective means of settling business disputes.
Arbitration is a procedure for settlement of disputes, under which the parties agree to be bound by the decision of an arbitrator whose decision is, in general, final and legally binding on both parties. It is governed by both statute law and common law, the principal legislation in England and Wales being the Arbitration Acts 1950-1975-1969-1996.
The Chamber of Commerce has been providing the service to firms in the district for many years and members of the Chamber have the "Rules" written into their contracts.
The procedures are closed to the public. If sensitive information is the key to the hearing, Arbitration can be preferred for its privacy. Obtaining a court date can take months and finding "expert witnesses" can be very expensive. Local experts can usually be found through the Chamber for Arbitrations, who are more willing to give of their time knowing that they will not be bound by the demands of the court system.
1. The Rules
4. Commencement of Arbitration
7. Appointment of Arbitrators and Umpires
8. Powers and Duties of Arbitrators and Umpires
10. Awards
11. Arbitration a Condition Precedent
12. Fees and Costs
13. Arbitration Act
14. Standard Arbitration Clause
16. Schedules