Description

Arbitration Agreement Referring the Matter in Dispute to Two Arbitrators

This is a "Readymade Format for Arbitration Agreement Referring the Matter in Dispute to Two Arbitrators ".
Legally required caluses are already in agreement Format in addition to, if is required, then you can add or remove the conditions.

# Arbitration Agreement Referring the Matter in Dispute to Two Arbitrators

Arbitration is a form of alternative dispute resolution (ADR) that can be used to settle disputes without taking the case to court. In an arbitration agreement, the parties agree to refer the matter in dispute to two arbitrators. This means that instead of using a judge to decide who is right and who is wrong, the arbitrators will assess the evidence and make a decision on who should win the dispute.

The use of two arbitrators rather than a single one offers a number of advantages. Firstly, two arbitrators are likely to be more impartial and objective than a single one, and they may be able to provide a more balanced view of the dispute. Secondly, the two arbitrators can communicate with each other and reach a consensus, rather than having to pass a judgment based solely on their own opinion. Finally, the presence of two arbitrators reduces the risk of bias, as it is unlikely that both arbitrators will have the same opinion.

When setting up an arbitration agreement, it is important to ensure that the arbitrators are properly qualified and experienced in the area of dispute. This will ensure that they are able to provide an impartial and fair assessment of the evidence. It is also important to determine the rules of the procedure, as this will dictate how the dispute will be resolved. This may include the deadline for submitting evidence, how the hearing will be conducted and the process for reaching a decision.

Arbitration agreements are increasingly being used in many disputes, as they can often be a quicker, cheaper and more effective way of resolving a dispute compared to going to court. The use of two arbitrators is particularly beneficial, as it provides a more balanced and impartial assessment, as well as reducing the risk of bias.