The Role of Arbitration Committee in Resolving Disputes

Introduction

The arbitration committee is an essential institution in the field of dispute resolution. Its function is to provide a neutral and impartial forum for resolving disputes between parties. Disputes can arise in various domains, such as commercial, labor, construction, and international trade. In this article, we will discuss the role and importance of the arbitration committee in resolving disputes.

The Role of Arbitration Committee

The arbitration committee serves several functions in the dispute resolution process. First, it provides an alternative to litigation, which is a time-consuming and costly process. Parties can choose to submit their disputes to the arbitration committee instead of going to court. Second, the arbitration committee provides a forum where the parties can present their case, and an arbitrator can make a decision based on the facts and evidence presented. Third, the arbitration committee provides confidentiality, which is essential in commercial and international disputes. Another important role of the arbitration committee is to enforce its awards. An arbitration award is a binding decision, and the parties must comply with it. If a party refuses to comply with an award, the arbitration committee can seek enforcement through the courts. The arbitration committee also has the power to decide on procedural matters, such as the place and language of the arbitration and the rules of evidence.

The Advantages of Arbitration Committee

There are several advantages to using the arbitration committee in resolving disputes. First, it is a faster process than litigation. Parties can agree on a timetable that is convenient for them, and the arbitration hearing can take place within a few months. Second, it is a less formal process than litigation. The parties can choose their arbitrator, and the hearing can take place in an office or meeting room, rather than a courtroom. Third, it is a confidential process. The parties can agree to keep their dispute and award confidential, which is particularly important in commercial disputes where business reputation is at stake. Another advantage of the arbitration committee is that it is a flexible process. The parties can choose the language and law that govern the arbitration. They can also choose the arbitrator based on their experience and expertise in the subject matter of the dispute. The arbitration committee can also adapt to the specific needs of the parties. For example, in construction disputes, the arbitrator may need to visit the construction site to assess the damages.

Conclusion

In conclusion, the arbitration committee is an essential institution in the dispute resolution process. Its role is to provide a neutral and impartial forum for resolving disputes. It serves various functions, such as providing an alternative to litigation, enforcing its awards, and providing confidentiality. The advantages of the arbitration committee are its speed, flexibility, informality, and confidentiality. Therefore, the arbitration committee is an effective way of resolving disputes, particularly in the commercial and international domains.