3 Steps in Arbitration
The arbitration process always involves an initial arbitration meeting, an arbitration hearing and an arbitration award. Â When there are emergent matters that need to be resolved in advance of the arbitration hearing itself the arbitration process will also involve interim applications. Â Each part of the arbitration process is described more thoroughly below:
Initial Arbitration Meeting
There will be an initial arbitration session in order to:
- identify the issues to be resolved
- determine whether or not there are any emergent matters that require a decision prior to the arbitration hearing
- determine what steps, if any, are required prior to the arbitration hearing
- decide how formal the arbitration hearing will be
- identify the witnesses to provide evidence
- specify the length of time required to conduct the hearing
- set timelines and schedule the next steps and/or schedule the arbitration hearing
Any emergent matters are resolved by way of provisional arbitration hearings and temporary arbitration awards are rendered to resolve these issues.
The arbitration hearing allows parties to present evidence and argument. Many arbitrations only involve the parties themselves presenting evidence but some include third party witnesses, such as experts like business valuators or child psychologists.
An arbitration award is the binding decision which is issued by the arbitrator. The award is rendered within one month of the conclusion of the arbitration hearing.
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