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Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitration award'. [1] An arbitration award is legally binding on both sides and enforceable in local courts, unless all parties stipulate that the arbitration process and decision are non-binding.
Most legal systems provide that, in default of agreement, a new arbitrator shall be appointed using the provision for appointments which applied to the original arbitrator that has vacated office; [9] the tribunal itself (once reconstituted) should determine whether, and if so, to what extent, previous proceedings stand; and the appointments ...
If you reject our last written proposal to resolve your claim before an arbitrator was appointed (the “Proposal”), and the arbitrator awards you more than the amount of our Proposal, we will: (i) pay you the greater of the award or $1,000; (ii) pay twice your reasonable attorney’s fees, if any; and (iii) reimburse any expenses (including ...
The United States Arbitration Act (Pub. L. 68–401, 43 Stat. 883, enacted February 12, 1925, codified at 9 U.S.C. ch. 1), more commonly referred to as the Federal Arbitration Act or FAA, is an act of Congress that provides for non-judicial facilitation of private dispute resolution through arbitration.
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The American Arbitration Association (AAA) is a non-profit organization focused in the field of alternative dispute resolution, providing services to individuals and organizations who wish to resolve conflicts out of court, and one of several arbitration organizations that administers arbitration proceedings.
A primary objective of the USADR is to publish its rules and procedures in layman's terms.Arbitrator applicants who have industry knowledge and expertise are favored over arbitrator applicants whose experience is limited to the courts of law, and presiding arbitrators are consequently encouraged to apply common sense and equity when deciding a matter.