Arbitration Process
The Advantages of Arbitration
The Restrictions of Arbitration
What is the process of Arbitration?
You and your former partner will have a lot of insight into how the arbitration itself operates. The process although conducted by a private Judge is a less formal process than Court. At the outset, you will each sign an Arbitration Agreement setting out the process and you or the legal team(s) will work out with the Arbitrator the procedures to be operated and what is to be covered and/or not covered by the arbitration. Arbitration in Ireland is covered by the Arbitration Act 2010.
The parties decide how wide their arbitration is to be and what is to be covered and not covered in the arbitration. In many cases they will want all their differences arbitrated. But sometimes the arbitration may be limited to agreed issues, leaving room for further negotiation or application to the Court. It is permissible for the arbitration to be completed on paper only and not have an in person hearing, if the parties agree or the Arbitrator so directs, further reducing costs.
Parties can decide to represent themselves at an Arbitration, just like they can do in Court, but it is highly recommended to engage a Solicitor to represent you, advising you throughout the process and bringing your case to a full and final conclusion both inside the Arbitration and after the Arbitration.
Arbitrations can be either in person, or by written submissions/paperwork or online and with or without oral testimony. Testimony of the parties and of witnesses can be examined and cross examined in arbitration.
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Cost of Arbitration
The Arbitrator and the parties will agree the Arbitrator’s fees (either on an hourly or daily basis, or for an overall fixed fee) before the Arbitrator is engaged.
Who pays?
The usual arrangement will be for the parties to bear the Arbitrator’s fees and expenses in equal shares.
Legal costs & Arbitration Expenses
These are the costs incurred by a party in engaging lawyers to prepare for and represent them in an arbitration, as well as such costs as the hire of a venue for a hearing. The usual arrangement will be for each party to bear their own legal costs, and not to make any payment towards the other party’s legal costs. The costs of a venue (and similar costs) will also usually be borne equally.
However, just like in Court the Arbitrator has a discretion to order a party to pay part or all of the legal or other costs of another party if that is appropriate because of the conduct of that party in relation to the arbitration.
