What can an arbitrator do?
You both put your case to an independent person called an arbitrator.
The arbitrator listens to both sides, looks at the evidence you’ve sent in and decides what the outcome should be.
When the arbitrator makes a decision, this is called an award and it’s legally binding..
What is an arbitrator?
An arbitrator plays the role of a neutral person, who makes decisions on a dispute based on evidence presented by the parties. The decision the arbitratormakes is not always legally binding, but if it is, individuals and/or businesses are not able to go to court later if they do not agree with the outcome.
Who are arbitrators in India?
SELECTION AND APPOINTMENT OF ARBITRATORS IN INDIA The procedure in relation to appointment of arbitrator(s) is provided under Section 11 of the Act. A person of any nationality may be an arbitrator, unless otherwise agreed by the parties.
Are arbitrators assigned?
Judges are typically assigned randomly to a case. However, with an arbitration, the parties often have some input into who will end up being their arbitrator. … Arbitrators can also be required to be experts in the field or industry involved in a dispute, whereas a judge may or may not have such expertise.
Who is involved in arbitration?
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
Who usually pays for arbitration?
The rate given is usually the rate for the full arbitration. The usual practice is for each party to pay half of the total fees and costs unless otherwise agreed to. In some cases, the person or entity who does not prevail pays the full cost of arbitration.