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Business
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| Number of pages / Number of words: |
5 / 1161 |
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Sometimes he is legally qualified but usually he is an expert in the given field. After agreeing on the arbitrator's decision, it becomes legally binding and can be enforced in court (arbitration panel). This leads to an important disadvantage of arbitration. The decision, treated like a judgement of court, is difficult to challenge under the Arbitration Act 1996...
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After agreeing on the arbitrator's decision, it becomes legally binding and can be enforced in court (arbitration panel). This leads to an important disadvantage of arbitration. The decision, treated like a judgement of court, is difficult to challenge under the Arbitration Act 1996. If challenged, an appeal will increase the cost and the time taken rapidly so the parties must be careful not to let a statute of limitation run out while a dispute is in an arbitration process...
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