Dispute Resolution - Arbitration
Arbitration is described as "A non-court procedure for resolving disputes using one or more neutral third parties -- called arbitrator(s)". In Ireland arbitration is governed by the Arbitration Act of 2010.
Arbitration can be classified as a form of binding alternative dispute resolution, equivalent to litigation in the courts, and entirely distinct from the other forms of dispute resolution, such as negotitaion or mediation, which are usually non-binding.
There are many advantages to arbitration including:
- The privacy and confidentiality of the process
- The informal and flexible procedure
- The final and binding nature of the decision
- The exclusion of appeals
- The process is generally quick
- The procedure can be held in any venue and at any time
Mediation, Conciliation and Negociation services are also available
Keith Kelliher is a member of the Chartered Institute of Arbitrators and holds a Higher Diploma in Arbitration from University College Dublin.