Arbitration
Many contracts contain "arbitration clauses." Final
and Binding Decision. A
valid and enforceable agreement to arbitrate is, in effect, an agreement to
"binding" arbitration, in that the decision of the arbitrator is final
and not subject to review for conventional legal error. Absent a showing of
fraud, partiality or exceeding his/her granted powers, there is no ordinary
review of the arbitrator's action in any appellate court, even where the
arbitrator commits errors of law.
Critical Issues. Arbitration
clauses require special attention by experienced lawyers. A
well-crafted arbitration clause may address such complexities as selection of
the administering body, qualifications of the arbitrator(s), procedural rules
governing the process and rights of the arbitrator to administer the dispute
resolution process, method of application of the governing law, interim measures
and enforcement issues.
Related Topics:
International
Arbitration |