A submission agreement is a contract in which the parties agree to submit a particular existing controversy to arbitration and to abide by the award of the arbitrator or arbitration panel. The agreement is governed by the rules applicable to contracts generally, and consideration is supplied by the mutual covenants of the parties to be bound by the award rendered.
Title: Resolving Disputes: Understanding Idaho's Submission to Arbitration between Building Construction Contractor and Owner Introduction: When it comes to resolving disputes in the construction industry, Idaho offers a streamlined solution through the process of arbitration. This article delves into the intricacies of Idaho's submission to arbitration, highlighting its benefits and various types available for resolving disputes between building construction contractors and owners. Understanding this process can help parties involved in a construction project navigate conflicts effectively and efficiently. 1. What is Idaho's Submission to Arbitration? Idaho's submission to arbitration refers to a legally binding process for resolving disputes between building construction contractors and owners. It involves submitting the matter to a neutral third party, an arbitrator, who acts as a private judge to facilitate the resolution of the dispute outside of court. It is an alternative to litigation and can save time and expenses associated with traditional courtroom processes. 2. Benefits of Idaho's Submission to Arbitration: — Speed and Efficiency: Arbitration processes are typically faster than court litigation and can bring quicker resolutions to construction disputes. — Cost-Effectiveness: Compared to lengthy and expensive courtroom proceedings, arbitration often offers a more cost-effective option as parties have more control over the process and timing. — Expertise of Arbitrators: Arbitrators chosen for construction disputes often possess relevant industry experience, which allows for an expert evaluation of the case. — Confidentiality: Unlike court cases, arbitration proceedings can maintain greater confidentiality since they are not part of public records. 3. Types of Idaho's Submission to Arbitration: a. Voluntary Arbitration: In this scenario, both the building construction contractor and owner voluntarily agree to submit their dispute to arbitration, either before or after the dispute arises. This type of arbitration can be agreed upon through a contractual provision, such as an arbitration clause in the construction contract. b. Compulsory Arbitration: In some instances, Idaho statute may mandate the submission to arbitration. This could occur when parties are unable to resolve their dispute through negotiation or mediation, and it is determined that arbitration is the most appropriate method for resolution. 4. Arbitration Process in Idaho: The arbitration process typically involves the following steps: a. Selection of Arbitrator: The parties involved either agree on a mutually acceptable arbitrator or follow predetermined selection protocols defined by the contract or applicable Idaho statutes. b. Pre-Hearing Conferences: The arbitrator holds conferences or meetings with the involved parties, allowing for the exchange of information, identification of pertinent issues, and establishment of the arbitration timetable. c. Hearing: The arbitration hearing is conducted in a manner similar to a court trial, where evidence and witness testimony are presented to the arbitrator. d. Decision: After careful consideration of the presented evidence, the arbitrator renders a final and binding decision or an award, resolving the dispute between the contractor and owner. Conclusion: In conclusion, Idaho's submission to arbitration provides an efficient and cost-effective method for resolving disputes between building construction contractors and owners. Whether voluntarily agreed upon or compelled by Idaho statute, arbitration offers a streamlined alternative to litigation, providing expert evaluation, confidentiality, and timely resolutions. Understanding the different types of submissions to arbitration available in Idaho can help parties choose the most suitable approach for resolving their specific construction-related conflicts.
