Arbitration offers several advantages that make it more attractive than the litigation process. First, arbitration typically costs less than filing a lawsuit. The filing fees are less expensive, and arbitration preparation will cost less in lawyer fees than preparing for formal litigation. Although you do have to pay the arbitrator for their time, this cost is typically split between the parties.
Another benefit of arbitration is its speed and efficiency. Unless the dispute is particularly complex, most arbitrations last only one day. In most cases, you can schedule an arbitration fairly quickly depending on the availability of the arbitrator agreed upon by the parties. While the court process can drag on for years, arbitration can typically conclude within a few months.
Confidentiality is another benefit of arbitration versus litigation. The discussions held during arbitration, as well as the final resolution, are entirely confidential.
While courts are bound by rules of procedure, parties to arbitration can get creative with solutions for their dispute. Arbitration is not a place where one party is right and one is wrong. Instead, it allows the parties an opportunity to work with an unbiased third party to work towards an agreement.
Finally, arbitration is a less adversarial process than going to court. This can protect relationships between the parties involved in the dispute.
Debt recovery
Arbitration can be a quicker and simpler means of debt settlement or dispute for non-payment.
AIC Arbitration Services
Our impartial arbitration service offers an efficient and fair system for resolving disputes related to our standard contract forms. This service is provided by a neutral body, comprising a peer group of adjudicators with expert knowledge in specialised contract areas.
Claiming arbitration
To initiate arbitration, a party must provide simultaneous written notice to both the other party and the Federation. This notice should include the name of the appointed arbitrator and details of the dispute.
Please ensure this is done within the specified time limit, which can be found in the Rules of Arbitration and Appeal document.
Need further assistance?
For additional information on how to make a claim, please email [email protected].