5. About Arbitration
Arbitration, a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons. It is a resolution technique whereby a third party reviews the relevant evidence and imposes a decision that is legally enforceable.
There are two different forms of arbitration: binding and non-binding. In binding arbitration, parties must agree to abide by the decision of the arbitrator. While in non-binding arbotration, the process is used to help establish an advisory opinion - which the opposing parties may or may not abide by. Arbitrations follow the evidential and procedural regularity of court proceedings but take place out of court, in a less formal and less rigorous setting than litigation.
Arbitration differs from mediation in one key aspect. An arbitrator must remain neutral but in the end, using his/her own expertise and knowledge of the subject, come to an decision as to who is right. A mediator must only assist the parties themselves come to a reconciliation or agreement with no judgement. Although a mediation settlement is also legally enforceable.
When, as is common in recent years, arbitration proceedings cross international borders, interpreters are required to facilitate vital discussion. TJC Global is proud to offer professional arbitration interpreting services which have earned the trust of top international companies and organisations all over the globe.