Dictionary

 

Arbitration, Mediation

It typically involves a process much less formal than the traditional court process and includes the appointment of a third-party to preside over a hearing between the parties. The advantages of Alternate dispute resolution (ADR) are speed and money. It costs less and is quicker than court litigation. ADR forums are also private.

The disadvantage is that it often involves compromise.

Keywords

Arbiter

An alternate term for arbitrator; preferred in some jurisdictions such as Scotland

Arbitration

An agreement to submit a dispute for a hearing and binding decision by a third-party, an arbitrator(s), who is neither a judge or a Court

Arbitration Act

A statute that sets out default terms for the conduct of arbitration between parties to a dispute

Arbitration Agreement

A contract between two or more parties to refer a dispute to arbitration

Arbitration Clause

A clause in a contract which requires a party to refer a dispute to arbitration

Arbitration Rules

The rules of procedure that govern a particular arbitration

Arbitrator

The adjudicating and presiding officer of a dispute submitted to arbitration

Award

The decision of an arbitrator

Centrocon Clause

A clause in an arbitration agreement which bars a claim if not made in writing and an arbitrator appointed within a set time frame

Choice of Law Clause

A term of a contract which sets the jurisdiction for dispute resolution, or the applicable law, in the event of any dispute between the contracting parties

Commercial Arbitration

Arbitration of a dispute as to a trade transaction for the supply or exchange of goods or services

Compromise Agreement

An agreement to settle a previously existing claim with a substituted performance

Conciliation

A form of alternate dispute resolution (ADR) in which a neutral third-party hears both sides and then issues a non-binding suggested resolution

Grievance

A claim by a union or a unionized employee that a collective bargaining agreement has been breached

Grievance Arbitration

The resolution of a dispute as to an alleged violation of a term of a collective bargaining agreement, by arbitration

International Commercial Arbitration

A commercial dispute subject to arbitration and in which a significant international elements exists such as, for example, the head offices of the disputants are different countries or the performance of the underlying contract is in a foreign state

Judicial Review

A process where a court of law is asked to rule on the appropriateness of the decision of an administrative agency or tribunal

Med-Arb

A form of arbitration in which the arbitrators starts as a mediator but in the event of a failure of mediation, the arbitrator imposes a binding decision

Mediation

A neutral facilitator who assists the parties to a dispute in communicating and negotiating a settlement

Natural Justice

Basic or fundamental judicial rights extended to a person with rights at issue

Oversman

The Scottish law term for umpire

Personal Interest

An interest in either the subject matter or a relationship with the parties before a judicial body

Scot v Avery Clause

Named after the case, this refers to a contract between two parties that they will submit any dispute between them to arbitration before taking any court action

Time bar Clause

A clause in a contract which sets a strict deadline within which either party may bring a dispute to either a court or to arbitration

Umpire

Another word for an arbitrator or an arbitrator appointed to resolve an arbitration when the original arbitrators cannot agree

UNCITRAL

Acronym of the United Nations Commission on International Trade Law; also known in law as the abbreviation in reference to arbitration rules and laws published by that agency.

Valuation

An expert's assessment, appraisal or opinion as to the market value of an item of property

 

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