Arbitration Agreement - with Foreign Company
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FAQ
The Arbitration Process The demand generally describes the parties, the dispute, and the type of relief sought. The opposing party usually responds in writing, indicating whether they believe the dispute is arbitrable. If the dispute is arbitrable, the parties then select an arbitrator or panel of arbitrators.
The dispute is going to arbitration . Both sides have agreed that the arbitration will be binding. The judge said that arbitration was a fair and expeditious decision-making process. The wage disagreement is under arbitration. Both parties agreed to independent arbitration.
An arbitration award is the award of damages to a party in the arbitrator's decision.Examples of remedies that may be awarded by an arbitrator include: The payment of a specific sum of money, called conventional damages An order for a party to the proceeding to do or not do something, called injunctive relief
Arbitration is a private process where disputing parties agree that one or several individuals can make a decision about the dispute after receiving evidence and hearing arguments. Arbitration is different from mediation because the neutral arbitrator has the authority to make a decision about the dispute.