Arbitration is a formal dispute resolution process which is governed by legislation.

It involves an independent party making a binding decision on the parties in dispute.

The independent party hears evidence and submissions from the parties.

The independent party makes a decision known as an award.

The 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 subject to some limited exceptions.

For more information about:

• how an arbitrator is appointed click here.
• the steps involved in arbitration click here.
• the advantages of arbitration click here.