Arbitration involves the resolution of disputes outside of the all too often slow and expensive Irish Court system. It involves a hearing of issues between parties before an expert that the parties have agreed to whose findings and determination form a legally binding agreement between them.
The workings of the Arbitration process are laid out in a written agreement as to the role each party has to play and the information that should be available to the Arbitrator. The Arbitrator is typically given the power to compel information that he or she might deemed important or necessary to fully decide the issue between the parties.
Although often used in the context international commercial disputes, arbitration is applied to a diverse range of area. It is a well established legally enforceable alternative to litigation. In Ireland, Arbitration also benefits from statutory protection under the Arbitration Act 2010, which incorporates current international best practice into Irish domestic law.
The Benefits of Arbitration are:
- Speed of resolution – the parties can move at their own pace. Proceeding through the courts system can be extremely time-consuming.
- Control of the process – The parties can agree the Arbitrator between them in advance, the rules to be used in the arbitration and location of the Arbitration hearing.
- Commercial sensitivity – Arbitration is a private resolution process, protecting sensitive information.
Cost – Arbitration can be prove to me a more inexpensive option to resolving an issue through a lengthy Court hearing.
- Finality – the determination is final and binding and excludes the possibility of appeals.
Arbitration can be availed of by mutual agreement between parties or, more often, it is provided for in the contract between two people or businesses. It is routinely the case in Ireland that all modern business contracts provide for resolution of disputes concerning the contract through mediation or arbitration. In these cases the parties are almost precluded from accessing the Court process in favour of resolution through the arbitration process. In most cases it is advisable to initiate the case via the arbitration process and revert to the Court proceedings only where there is no engagement by the other party. This is not necessarily the case for mere debt collection cases and we will advise in each case as to the best legal strategy to follow.
The following is a sample list of the contracts that we have dealt with through Arbitration:
- Building/engineering contracts; and Partnership agreements (whether under the Partnership Act 1890 or the Limited Partnership Act 1907)
- Insurance contracts and policies
- Contracts for the sale of goods and the supply of services
- Contracts for the sale of motor vehicles
Our specialist litigation department has years of experience in prosecuting cases though the Court and guiding our Client through the process of arbitration. Our track record speaks for itself. Our approach on behalf of our Clients is determined and resolute and we protect their interests to the full. Our service is welcoming and our fees are always competitive.
We are happy to meet with you to discuss your case in general terms and advise on the best and most cost effective legal strategy.