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The ProcessCompulsory arbitration clauses are to be found in many business contracts. The arbitrators appointment may be by agreement or by an independent appointing body (such as the R.I.A.I.).
The process is similar to court action where the arbitrator is the judge. Having the appropriate specialist experience the arbitrator is able to consider complex technical issues. The arbitrators award is final and binding. Arbitration is governed by the Arbitration Act 2010 which contains the UNCITRAL Model Law. |
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