What is Arbitration?
Arbitration is a binding process that takes the place of a trial. The advantage of arbitration is that the parties, with the assistance of counsel, are able to choose their own person to resolve the case instead of the judge that is assigned to the action. If you place your case in arbitration, all disputed issues, which could include such issues as custody, parenting time, child support, retirement, spousal support, debt and division of property will be decided by the person that you and your spouse appoint as arbitrator. The arbitrator’s decision shall be binding. The disadvantage of arbitration is that each party’s right to appeal the decision of the arbitrator is much more limited than a party’s right to appeal the decision of a trial judge.
Arbitration is a procedure whereby parties unable to agree to a solution to a problem indicate their willingness to be bound by the decision of a third party (the “arbitrator” or “umpire”). It is a method of resolving disputes as an alternative to litigation. However, unlike mediation, the objective of arbitration is adjudication rather than compromise. It is commonly designated in collective bargaining agreements between employers and employees as the way to resolve disputes. Section 4117.09, Revised Code, states in part that collective bargaining agreements (that are negotiated with public employees’ representatives) must contain grievance procedures that “may culminate with final and binding arbitration of unresolved grievances, and disputed interpretations of agreements ” Therefore, the law does not mandate binding arbitration for the resolution of employee grievances, but it leaves it up to the bargaining parties. All of the collective bargaining agreements that are negotiated bet
• A process in which a neutral individual or panel listens to the issues in the dispute and render a decision regarding liability and damages. Voluntary arbitration allows the parties to select the individual or panel. Generally, cost is equally split. Non-binding arbitration allows parties to refuse the decision and move on to the court process. Binding arbitration generally means that neither party can appeal the decision or take it into court. • [ Return To Top ..
The Georgia Lemon Law provides that manufacturers may set up arbitration programs. These programs receive consumers’ complaints and are supposed to attempt to resolve the legitimate ones prior to a lawsuit being filed with a Court of Law. If the manufacturer has properly set up such a program and it is certified by the Attorney General of Georgia, then the consumer’s case must proceed through such a program before a Complaint may be filed with a Court of Law. However, not all the manufacturers have such certified arbitration programs and many times the vehicle is ineligible for arbitration due to age or mileage, per the arbitration programs’ own rules. In those cases, the consumer may file a Complaint with a Court of Law without resorting to the arbitration procedure first.
Securities Arbitration is moderated by private, impartial parties who have a particular knowledge of the securities industry. This avoids unnecessary and expensive litigation in the courts and helps to facilitate a better outcome for the parties. The Financial Industry Regulatory Authority (FINRA) is the forum for securities arbitration. The arbitration process has some similarities to court proceedings. There is an exchange of pleadings and request for information. After preparation, there is a hearing before the arbitration panel, which will eventually render a decision. This decision has the binding effect of a court order.
Related Questions
- What is the role of the Hong Kong International Arbitration Centre (HKIAC) in the dispute resolution process regarding CN domain names or Chinese domain names?
- What are the steps in the arbitration process in regard to a dispute involving a .hk domain name?
- What Is The Difference Between Court And Arbitration?
