The Arbitrator is an experienced person both parties agree to.The arbitrator takes the place of a judge and jury and listens to the facts presented by the parties, applies the relevant law, and determines the decision on an award. Individuals who serve as arbitrators typically possess certain qualifications or minimum levels of experience to maintain the integrity of the arbitration process.These individuals do not have to be from a legal background. Unlike a judge, arbitrators are paid by the parties, not by the government. A person who has served as a Mediator may not later serve as an Arbitrator, unless specifically agreed in writing by both parties.
Who can serve as an Arbitrator | Arbitrator Selection. Arbitration is a non-voluntary alternative dispute resolution process. Unlike mediation, a knowledgeable, independent, and impartial third party is empowered to make a decision. The arbitrator hears the disagreement between one or more parties and after considering all relevant information renders a final decision in favor of one of the parties. Arbitration decisions may be either binding or non-binding,depending on the terms of the arbitration agreement. Binding arbitration decisions may be confirmed by a court and carry the same significance as a court judgment.
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