Commercial dispute resolution

Arbitration is a dispute resolution process where the parties agree that an impartial and independent third party (the arbitrator) will determine the outcome of a dispute based on the issues presented. The arbitrator's decision is final and binding.

Organising an arbitration

The disputing parties will be able to choose where the arbitration takes place, who (and how many people) will make up the arbitration panel and what procedure the arbitration will follow. Arbitrations are normally confidential, and this may be attractive to parties wishing to avoid the negative publicity that open court proceedings might risk.

When the parties decide to use arbitration, the rules of arbitration will also be agreed. Those rules will include:

• the conduct of the arbitration, including the documents to be shared between the parties
• the procedure for the appointment of an arbitrator
• the procedure for the arbitration itself (including statements of claim and defence)
• the time limits

Arbitration is suitable for disputes across different countries because the decisions are internationally binding.  

Choosing an arbitrator

Arbitration is a good option when the dispute arises from technical or operational issues because the parties will be able to choose arbitrators with expertise in that particular field.

No legal qualifications are needed to be an arbitrator, so the parties could choose a member of a regulated professional body (for example, a chartered accountant or a chartered surveyor).

Further information

The Chartered Institute of Arbitration Ireland provides further information.