Business

Arbitration Solicitors

BUSINESS OBJECTIVES ACHIEVED

Arbitration

When running any business, there is always the possibility that disputes may arise for many different reasons. However, taking this type of issue to court can be time consuming and incur costly legal fees. That's why it's best to find an alternative method of dispute resolution, such as arbitration, to settle matters out of court and come up with a solution that works for all involved.

At Forbes Solicitors, we have a talented team of legal experts who have experience helping clients to resolve any ongoing or active disputes. They are trained in several different conflict resolution methods that can help achieve your personal objectives, including arbitration.

What is arbitration in business?

This is a method of conflict resolution that leaves the decision making to a third party arbitrator who has no personal stakes in the dispute at hand. Instead, evidence is provided and both sides have an opportunity to present their own argument, understanding that whatever decision is made by the arbitrator is final. After all information has been assessed, the arbitrator will make a final judgement.

When is arbitration used?

There are many incidences by which arbitration may be used to solve a dispute, especially when other methods like mediation have failed to work. Some of the most common examples being:

Employers & Unions
Fraud
Breach of Contract
Negligence

What are the different types of arbitration?

There are three different types of arbitration that are used, depending on the circumstances. These types are:

Judicial Arbitration: this is prior to court proceedings, where a judge orders that arbitration must be attempted before the case goes to trial.
Contractual Arbitration: when parties are contractually bound to an agreement whereby any disputes must be resolved by arbitration (or at least attempted to) before going to trial in court.
Stipulation: when parties have agreed to resolve a dispute by arbitration after the fact.

How long does the arbitration process take?

To cause minimal disruption, minimise the damage for all parties involved, and make sure that a resolution is found swiftly, arbitration can usually take up to 45 days. However, there will be unique circumstances that may mean this process may take more or less time.

The timescale can be unique to the dispute and is usually set by the parties involved in the preliminary stages of any conversations.

Why choose our arbitration solicitors?

Our arbitration solicitors are experienced in helping businesses find resolutions that work for all parties involved, including with the use of arbitration. At Forbes Solicitors, we can provide you with high quality legal professionals who specialise in these types of disputes and are trained in methods of conflict resolution. Get in touch with our expert team to find out more.