NCJ Number
93151
Date Published
1982
Length
14 pages
Annotation
Issues pertaining to arbitration as an alternative mechanism for resolving trade disputes include circumstances in which arbitration is indicated as a means to resolve disputes, the forums available for arbitration, circumstances in which a damaged party may compel arbitration, the cost of arbitration, and the procedures to be followed in arbitration.
Abstract
For trade disputes that cannot be resolved satisfactorily by the parties alone, arbitration is a viable alternative to litigation in most instances. It is a compulsory means of conflict resolution between members of most boards of trade, grain exchanges, and trade associations. An arbitration clause may be included in any contract. A court will compel parties to arbitrate rather than litigate in many instances and will enforce the findings of a properly conducted arbitration with the same vigor as it would a decision of its own. Most arbitration cases can be handled without the services of an attorney. The procedures and rules are much less formal than court processing, and cases can be handled more quickly and less expensively. Step-by-step procedures for arbitration are presented in the arbitration rules of the National Grain and Feed Association as well as in the rules of other organizations that sponsor arbitration. Some of the 'do's' of arbitration preparation and proceedings are to establish that you have a case, to consider the other side of the dispute, to organize document presentation, and to remember that the arbitrator is a volunteer. Some 'don't's' for arbitration are not to expect the arbitrator to make your case for you and not to present more than the pertinent facts at the arbitration hearing. A table comparing arbitration fee schedules is provided.