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Arbitration proceeding
An arbitration proceeding is relatively simple and quite straightforward, unlike a traditional dispute resolution like a court proceeding. Once the parties have agreed to an alternative resolution by arbitration and drafted the arbitration agreement (How to draft the arbitration agreement effectively, click), the next step is to submit disputes to the disputing parties. Both parties must appoint an arbitrator in accordance with the arbitration agreement. The appointment of an arbitrator can be made in single, three, or more; but must be an odd number.
For the majority, people tend to think that arbitrator must be a lawyer with a stern look. In reality, anyone can be an arbitrator if both parties agree that such person is expertise on the disputing issues. Such person must be sufficiently knowledgeable to determine right and wrong. If the parties have no idea on who to appoint, THAC has its own arbitration experts in various fields from many professions who possess both experiences and has been specially trained at your service. Regardless of the aforementioned, both parties can also challenge the arbitrator at any time if they question the impartiality or inability as the arbitration agreement has prescribed. After the arbitrator’s appointment, the disputed matter will be determined, and the evidence of the parties will be submitted and examined.
Examining the evidence in arbitration will have a friendly atmosphere compared to a court proceeding. The arbitration with THAC will be arranged for a designated room for examination. Each party will then submit their own evidence for the arbitral tribunal to examine. This proceeding will be a private procedure. Only the disputants, witnesses, and the arbitral tribunal will be involved in maintaining confidentiality. After examining all evidence, the arbitral tribunal will decide on the guilty party or the amount of agreed compensation. The decision will be made on paper and sent back to each party. Both parties must accept and comply with the arbitral tribunal’s award.
You can watch a short video provided by THAC to further understand the Arbitration proceedings in Part 1, Part 2.
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