If your business falls into a commercial dispute, one of the first things you need to consider is how you will try to resolve it. It is, therefore, essential that you understand different methods for resolving commercial disputes. This can help you decide which to use either when developing a dispute resolution clause in your business contracts or during the disagreement itself. Two alternative dispute resolution (ADR) methods are arbitration and expert determination. This article will explain the key differences between arbitration and expert determination for your commercial dispute.<\/p>\n\n\n\n
Arbitration is an alternative dispute resolution<\/a> (ADR) method for resolving commercial disputes. This means it occurs outside of the courts. Nonetheless, it is still a reasonably formal ADR process, so there are specific rules and procedures. Where parties use arbitration proceedings to resolve their commercial dispute, they will likely have an arbitral clause in the contract outlining this.<\/p>\n\n\n\n Arbitration involves the parties appointing an expert arbitrator or panel of arbitrators, depending on the complexity of the dispute. You and the other party will then present evidence for your side of the dispute to the arbitrator, who ultimately makes a binding decision. This is often called an arbitral award. <\/p>\n\n\n\n Expert determination and ADR method where you and the other party appoint an expert for the issues you disagree on. They make a binding decision on the dispute. However, it is up to you and the other party to determine the exact way the expert determination process will work.<\/p>\n\n\n\n Expert determination is a beneficial ADR method for a commercial dispute concerning a technical issue. Therefore, when parties appoint an independent expert to decide on the dispute, they choose one with expertise in that area. However, where your dispute is a legal issue, such as legal interpretation or a factual issue, expert determination unlikely to be as helpful. <\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nWhat is Expert Determination?<\/h2>\n\n\n\n