Arbitration is a private, and privately funded, process in which disputing parties bring their issues before a trained arbitrator – usually a senior barrister. After reviewing evidence and argument, the arbitrator will provide an impartial decision, or “award” – usually within two weeks of the hearing – and once accepted, this decision becomes binding with the authority of a court ruling.
Arbitration typically allows parties to achieve a settlement more quickly than through the courts, at lower cost and with a significant degree of control over how the process will work for them. For example, parties going into arbitration may choose to focus on a single issue – a sticking point that arose during a mediation – or they may seek a decision on a range of issues. Parties also get to select their arbitrator, the location for the arbitration and in broad terms the timing of the hearing. Arbitrations may also be conducted without parties present if the parties so elect, or as shorter hearings in appropriate cases.
For these reasons – speed, privacy and cost-effectiveness – arbitration can be an extremely valuable approach in resolving family disputes involving children and financial settlements.
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At Harcourt we have six formally accredited arbitrators. All are members of the Chartered Institute of Arbitrators and are fully trained and experienced in delivering arbitration in financial and private children cases.
We can also provide facilities for hosting arbitration hearings, including an arbitration suite featuring a large room for the hearing itself and separate, private rooms for the disputing parties. We also have the technology to conduct hearings remotely.
Fees for a 1 day arbitration hearing, to include a one hour telephone directions hearing in advance if required, and the writing of the award, returned to the parties within 7 working days.