The Benefits of an Arbitration Clause

Abstract

Reseña:This second article follows on to look at the choices open to the parties if they are unable toresolve their dispute by negotiation and how these choices can be incorporated into thecontractual documentation. Apart from negotiation, there are a number of means by which adispute can be decided by a third party which include expert determination and arbitration asopposed to litigation. This article considers all three options but focuses on the advantagesand disadvantages of arbitration compared to litigation, all of which should be consideredwhen deciding whether or not to include an arbitration clause in your contractThis second article follows on to look at the choices open to the parties if they are unable to resolve their dispute by negotiation and how these choices can be incorporated into thecontractual documentation. Apart from negotiation, there are a number of means by which adispute can be decided by a third party which include expert determination and arbitration asopposed to litigation. This article considers all three options but focuses on the advantagesand disadvantages of arbitration compared to litigation, all of which should be consideredwhen deciding whether or not to include an arbitration clause in your contract.