View Changes And Revision History Of Legal Oklahoma Arbitration Forms For Free

Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

(1) This Act shall apply within the local limits of the ordinary civil jurisdiction of the Recorder of Rangoon in cases where, if the subject- matter submitted to arbitration were the subject of a suit, the suit could, whether with leave or other- wise, be instituted within those local limits.

Speed to resolution is a prime reason some small businesses build arbitration into their contracts. American Bar Association research suggests that average arbitration cases take about seven months, while average litigation can take from 23 ? 30 months depending on the court schedule.

The arbitration agreement dictates whether you can appeal the arbitrator's decision to another arbitrator or even to the court. Under Oklahoma law, a court can then enter judgment on an award from the arbitration, which is equal to any other judgment that the court enforces.

The parties each pay their own costs to conduct their case. Parties will likely not encounter all of the above costs on every case, and the amount of these costs, and which party must pay them, is different depending on the case and the rules that apply.

In much that is written today about international arbitration there is a distinction made between what is referred to as commercial arbitration?the arbitration of disputes between parties to contracts with arbitration clauses?and so called investment arbitrations, disputes between host nations and investors in those ...