What is Arbitration?
Arbitration is an Alternative Dispute Resolution (ADR) method to resolve a dispute. Arbitration means to privately instruct a jointly appointed qualified arbitrator who will make a decision either via an oral hearing or a paper submission which will then create a binding outcome on a dispute.
In family law disputes Arbitration is available for both financial matters and issues regarding children. In financial proceedings a form ARB1FS must be completed. Once signed, the parties are then bound to the process.
How the process is undertaken is largely as per the parties’ wishes. The traditional court system is overrun and cases are being processed slowly and sometimes with last minute loss of hearings due to Judges not being available. Arbitration is an alternative option which can achieve resolution much more quickly without compromising on the quality of the decision. The arbitrator will be paid an agreed fee and then the parties can fix their own timetable and hearings dates and locations in accordance with their convenience. The issues can be the entire financial matters or an individual point such as pensions only. The parties can choose the actual arbitrator, where and when the hearing takes place, the level of disclosure, the issue of the dispute and whether this should be oral or written evidence. There is lots of flexibility in the system to suit all parties in reaching a resolution on an issue in dispute.
What are the benefits of Arbitration?
The court system is overloaded, expensive and time consuming. Recent changes to the court process mean that before any first hearing the parties must show the court how they have considered alternative disputes to court. Arbitration being one of those ADR methods. Whilst the parties have to pay the Arbitrator’s fees the parties actually can end up spending a lot less than court proceedings as the process is quicker, more streamlined and the parties can decide what evidence they wish to adduce.
The main benefits are:
- There is often limited delay as a hearing date can be fixed when the parties wish and in accordance with their own timetable.
- You can select your jointly appointed Arbitrator by agreement
- The hearing date, time, location and contents of the dispute is agreed in accordance with your wishes
- The hearing is private and confidential
- The Arbitrator only has one case to deal with at a time and will be totally dedicated to the one matter at hand to provide an individual solution.
How can we help?
Our specialist Family team now offer Arbitration for financial disputes, which alongside our mediation offering this means we are full service family law department with ADR options.
If you are interested in enquiring about Arbitration and the costs then please contact Simon Fisher.
