This is commonly seen as a key benefit of arbitration. Parties may designate individuals to function as solitary arbitrators or, in the instance of a three-member tribunal, each party may suggest one arbitrator, with the chairman being selected by the two party-nominated arbitrators. The client has the power to choose, from the arbitrators, to the venues, like meeting rooms.
Choosing an arbitrator might be one of the most important decisions a side makes. Because there is minimal redress and no right of appeal against an arbitral ruling, selecting a Tribunal that understands the problems is critical. Furthermore, because arbitrations are performed without precise procedural standards, an arbitrator’s responsibility is to guarantee that the process is fast, fair, and cost-effective in addition to rendering an enforceable ruling. The calibre of the arbitrator may make or break an arbitration, therefore selecting arbitrators is a crucial step in the process.
Select an arbitrator who has a reasonable caseload.
Inquire about their caseloads while screening applicants. Inquire about the arbitrator’s ability to dedicate enough time and attention to the parties’ disagreement, and nominate the arbitrator whose schedule allows him or her to take on the case.
It is common knowledge that well-known arbitrators are in high demand, and their caseloads may be substantial. Indeed, they may have months of their calendar blocked out months ahead of time. Choosing an arbitrator with a large caseload might cause scheduling issues, delaying the procedures and jeopardizing the parties’ right to a quick settlement. As a result, it is advised that the arbitrator’s capacity to take on the case be prioritized.
Select an arbitrator who possesses the necessary legal and professional expertise.
The option to pick a decision maker with competence that matches the nature of the dispute is a key benefit of participating in the selection process. For example, an engineering background or expertise in the oil and gas business may be required in some conflicts to obtain a satisfying outcome and prevent the need to waste time discussing basic industry principles and rules. To this aim, political parties should conduct extensive background checks on candidates. Examine CVs, perform web research, and consult with peers in particular.
Take the Nationality of the Arbitrator into Account
Arbitral organizations frequently rule that a solo arbitrator or chairman of the tribunal cannot be of the same nationality as one of the parties in cases when the parties are of different nationalities. The parties may, of course, agree on something else in writing. This guideline is in place to avoid actual or apparent bias in the proceedings.
Select an arbitrator who possesses strong management abilities.
The lack of rigid procedural norms might result in a quick and effective arbitral process that is tailored to the specific issue at hand. Arbitration has a number of advantages, one of which is the proceedings’ flexibility. However, if not well handled, the lack of procedural norms can lead to lengthy conflicts between the parties, resulting in delays and excessive expenditures.
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