An arbitration agreement is an agreement between parties to resolve legal disputes, whether contractual or otherwise, by arbitration. The agreement defines the process of arbitration, the appointment of an Arbitrator and the rights of the parties. The arbitration agreement is usually a clause in a broader contract between the parties.
Arbitration can be utilised for both private and commercial disputes and occurs on a domestic and international level.
Commercial arbitration between Australian parties is regulated by Commercial Arbitration Acts. In recent years States and Territories, with the exception of the Australian Capital Territory, have enacted new laws to align the Australian position with the international arbitration regime. In New South Wales the relevant legislation is the Commercial Arbitration Act 2010 (NSW).
Arbitrations are usually conducted as a series of meetings and finally a formal hearing. The arbitration is generally conducted without applying the rules of evidence to which a Court is bound.
The determination of an arbitrator is called an 'award'. An award is final and binding and has the effect of terminating the arbitration proceedings. Each party is under an obligation to comply with the terms of an award. The various Commercial Arbitration Acts provide that an arbitration award is binding and may be enforced as a judgment of the court.
The rights of appeal against an arbitration award are extremely limited. An application to the court must be made either:
To set aside the award. This may only be made effectively on the basis of some failure in the arbitration process, such as misconduct of the arbitrator; or
By appeal to the court on a question of law, either with agreement or with the leave of the court.
If you are in dispute and seek to resolve the dispute by way of arbitration, we recommend that you contact our office and arrange an appointment to see one of our International Disputes & Litigation Solicitors in our Sydney office. By appointment, we can also arrange a time for you to see one of our lawyers at a branch office. For a complete listing please see our "Locations" tab.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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