| Commentary

5.1 Arbitration in general

| Commentary

5: ARBITRATION AND ALTERNATIVE DISPUTE RESOLUTION

(For arbitration and ADR clauses see Form 5.1 [1101] onwards.)

5.1 Arbitration in general

The purpose of arbitration ‘is to obtain the fair resolution of disputes by an impartial tribunal without unnecessary delay or expense’1. The purpose of arbitration clauses in contracts is to enable a dispute between some or all of the contracting parties to be determined with final and binding effect by an impartial third person or panel of persons, acting in a judicial manner. The arbitrator’s authority is derived from the agreement of the parties concerned.

The inclusion of an arbitration clause assumes that

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