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Not all disputes, even those in which skilled intervention occurs, end in resolution. Such intractable disputes form a special area in dispute resolution studies. [6] Dispute resolution is an important requirement in international trade, including negotiation, mediation, arbitration and litigation. [7] [full citation needed]
In order to expedite dispute resolution, standard forms have often provided for arbitration by a "board of arbitration" or professional arbitrator, [3] although many now offer a choice between arbitration and litigation. Construction law has been affected by the requirements in public contracts, which include surety bonds and other procedures.
Arbitration is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitration award'. [1]
Alternative dispute resolution (ADR), or external dispute resolution (EDR), typically denotes a wide range of dispute resolution processes and techniques that parties can use to settle disputes with the help of a third party. [1] They are used for disagreeing parties who cannot come to an agreement short of litigation. However, ADR is also ...
The Society of Construction Arbitrators is a learned society of arbitrators, adjudicators and mediators in the construction industry, based in London. It has as its object the development and support of commercial methods of alternative dispute resolution. Members of the Society include architects, engineers, surveyors and lawyers from around ...
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.