Arbitration in the construction and engineering industry
Arbitration is an alternative to litigation and is either required as the parties have already agreed to refer a dispute to arbitration in the contract they have signed, or the parties agree to have the dispute referred to arbitration instead of Court once the dispute has arisen.
Whilst arbitration can be used for national and international disputes, in our experience arbitration is generally used where there is the need for the decision to be enforced abroad; this is one of the standout advantages of an arbitration decision over a Court order.
Key facts about arbitration
- The arbitrator’s decision is final and binding;
- Decisions are not usually subject to appeal;
- The parties can choose how many arbitrators are to be appointed and what qualifications the tribunal must possess;
- The parties can choose the rules which govern the arbitration; and
- Usually a confidential process.