|
Binding Arbitration Binding arbitration is used when the parties are unable to settle a dispute by other means. The parties may decide to be bound by an arbitrator’s decision, or their contract may stipulate binding arbitration. The parties jointly select a neutral person having knowledge in the subject matter of the dispute. In complex cases, the parties usually establish a panel of three arbitrators. The parties may elect to have the arbitrator conduct a formal hearing or make the decision on documents alone. The arbitrator considers the parties’ arguments, the facts, contract provisions, and construction law principles. The arbitrator then decides who wins and awardS damages to the winner. The parties generally cannot appeal the decision nor take the dispute to court once the decision has been rendered. Though not required, legal representation or counsel is important since the parties will be bound by the arbitrator’s decision. Binding arbitration is confidential and not subject to public knowledge and possible media attention as can be the case with litigation.
Select JLMcDonald to arbitrate your construction disputes*. *JLMcDonald does not render binding decisions for projects on which JLMcDonald serves as a DRB member, mediator, or non-binding arbitrator.
|
|
© 2007 JLMcDonald Conflict Resolution Services. All rights reserved. |
|
Conflict Resolution Services |
|
JLMcDonald |
