‘Arbitration is the form of ADR on everyone’s lips – even more so now with the new NCDR provisions that have come into force. Slow to get going, after its launch in 2012, and after Haley v Haley ironed out people’s concerns about routes to appeal, arbitration is sometimes hailed as being the silver bullet solution – a client-pleasing way to avoid the challenges that come with the court service. Providing a confidential and streamlined process for those wanting to avoid the delays and potential publicity of a court process, its attraction for clients, other than the additional fees of the arbitrator, are obvious.

However, there are traps that one can fall into, and stumbling blocks we have identified which prevent people from arbitrating, cause difficulties in the process and can add to the cost for clients, which can tarnish the lustre of our proverbial silver bullet.

Here are our lessons learned over the past few years.’

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Financial Remedies Journal, 2nd December 2024

Source: financialremediesjournal.com