What is Arbitration?
Arbitration is a method of alternative dispute resolution that involves at least one though sometimes more neutral third party arbitrators who are responsible for conducting the arbitration hearing. The arbitration hearing is held based on specific procedures and rules, and the purpose of arbitration is to determine who is wrong and who is right based on a selected issue. The decision that the arbitrator makes is either binding or non-binding depending on the particular situation. Binding arbitration is a type of arbitration that involves either a single arbitrator or an entire panel of arbitrators that conducts a hearing in order to decide, which party should receive an award, and the award is binding on all of the parties, even those who do not receive an award. The other option is non-binding arbitration, that involves either a single arbitrator or an entire panel of arbitrators conducting a hearing in order to decide which party should receive an award, and the award is not binding on any of the involved parties.
What is an Arbitrator?
Arbitrators are neutral people who are responsible for conducting arbitration proceedings on their own or in conjunction with other members of an arbitration panel. Arbitration law involving multiple Arbitrators typically consists of a panel of neutral persons conducting a tripartite arbitration hearing. A selected arbitrator that works on a tripartite panel for such an arbitration proceeding is meant to represent one of the involved parties rather than acting as a neutral. When only a single arbitrator is presiding over an arbitration proceeding, he or she must be completely neutral, weighing the facts and evidence of the case rather than taking one side over the other based on bias or personal opinion. Arbitrators have two basic avenues of training that they need to seek out in order to effectively conduct their job.
What is Arbitration Training?
Both arbitrators and mediators have to receive specialized training in order to do their job. Most arbitrators have law certificates or legal degrees and the appropriate legal background as well, but they also undergo specialized arbitration training for the dispute resolution process and to strengthen their backgrounds in conflict and dispute resolution. Although arbitrators can technically work with only a law degree or law certificate, many go on to obtain specialized arbitration training that allows them to obtain certificates to show their capabilities in this field of law. Furthermore, many arbitrators specialize in certain fields of arbitration, such as divorce arbitration law for example, or consumer arbitration law. By specializing in a field such as these, arbitrators can focus themselves on a specific type of arbitration to better perform their duties in an arbitration hearing. Many arbitrators and mediators have other backgrounds both professionally and academically as well, though these backgrounds are most commonly in addition to their law background.
Conclusion
Arbitration training is a great way that neutral parties can better define their skills for the purpose of arbitration hearings. Because arbitration often involves special knowledge or understanding and complexity, the more arbitration training that a potential arbitrator can seek, the more prepared he or she will be to tackle arbitration cases and arbitration hearings in a variety of different industries.