A claimant will typically start arbitration by sending a document known as a “request for arbitration” or a “notice to arbitrate” to its opponent.
Arbitration. Arbitration is intended to provide the parties to a dispute an opportunity outside of court to have a complete airing of their claims with a decision rendered by a neutral individual or panel.
(a) A consumer shall request arbitration by filing a written application for arbitration with the Attorney General.
Every arbitrator must be and remain impartial and independent of the parties involved in the arbitration. Before appointment or confirmation, a prospective arbitrator shall sign a statement of acceptance, availability, impartiality and independence.
The Georgian Law on Arbitration provides that a tribunal shall decide a dispute in ance with the rules of law that are chosen by the parties and are applicable to the substance of the dispute.
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.
Consumers are more likely to win in arbitration than in court. This research from ndp | analytics demonstrates that in disputes initiated by a consumer, consumers fare much better in arbitration than they do in litigation.
Arbitration can also come with hidden costs. While companies often argue that arbitration is cheaper than going to court, this isn't always true. Sometimes, arbitration fees can be exorbitant, and there are instances where employees are even required to split these fees with the employer.