The Chartered Institute of Arbitrators appoints and nominates Arbitrators, Mediators, Conciliators, or Expert Determination in the matter of all types of disputes, whether it is commercial, consumer, contractual, family, business, employer/employee, insurance, property, partnership, or otherwise. Alternatives to Court The most common method of dispute resolution provided by the Irish Branch is Arbitration. However, there is a growing use of mediation and other forms of ADR. The process of arbitration has many advantages over litigation or other forms of adjudication and dispute resolution in appropriate cases.
- Neutral: The arbitrator is typically chosen by the Institute.
- Specialist Knowledge: The arbitrator will usually have a specialist knowledge of the field of activity.
- Efficiency: The parties can decide on the location, language and to a great extent, the timing of the hearing to facilitate the parties and their witnesses.
- Informality: The process is less formal than court.
- Certainty: The arbitral award is binding and enforceable.
- Finality: The arbitral award is final and cannot be appealed.
- Speed: Expedition results in cost savings.
- Privacy: Arbitral awards are private and do not become binding precedents.
In Ireland arbitration is governed by the Arbitration Acts 1954-1998, which provide a structural legal framework for both domestic and international arbitrations. The Arbitration (International Commercial) Act 1998 introduced the UNCITRAL Model Law as the procedural framework for international arbitrations.