A submission agreement is a contract in which the parties agree to submit a particular existing controversy to arbitration and to abide by the award of the arbitrator or arbitration panel. The agreement is governed by the rules applicable to contracts generally, and consideration is supplied by the mutual covenants of the parties to be bound by the award rendered.
Georgia Submission to Arbitration of Dispute between Building Construction Contractor and Owner: A Comprehensive Guide Introduction: In the context of construction projects, disputes between building construction contractors and owners are unfortunately not uncommon. Resolving such conflicts through litigation can be time-consuming, costly, and can strain the relationship between the involved parties. To overcome these challenges, Georgia offers the option of arbitration, a form of alternative dispute resolution (ADR), as an efficient and effective method to settle construction-related disputes. This article provides a detailed description of Georgia's Submission to Arbitration process, highlighting its key aspects and relevant considerations. Key Keywords: Georgia, submission to arbitration, dispute resolution, building construction, contractor, owner, alternative dispute resolution. Types of Georgia Submission to Arbitration: 1. Voluntary Submission to Arbitration: In this scenario, the building construction contractor and owner willingly decide to refer their dispute to arbitration rather than pursuing traditional litigation. This type of submission allows both parties to maintain control over the arbitration process, including the choice of arbitrator(s), rules governing the proceedings, and the venue. 2. Contractual Submission to Arbitration: Often, construction contracts contain arbitration clauses, requiring the contractor and owner to resolve any potential disputes through arbitration. When a dispute arises, both parties are bound by the terms of the contract and must adhere to the specified arbitration procedure. Process of Georgia Submission to Arbitration: 1. Initiating the Arbitration Process: Either the building construction contractor or the owner must formally notify the other party of their intention to submit the dispute to arbitration. This notice often includes details such as the nature of the dispute, relevant contract provisions, and a proposal for selecting an arbitrator(s). 2. Selection of Arbitrator(s): If the contractor and owner agree on a single arbitrator, they can jointly appoint one. However, if no agreement is reached, each party may appoint an arbitrator, and the two appointed arbitrators jointly select the third arbitrator, who will act as the presiding arbitrator. 3. Arbitration Proceedings: Arbitration proceedings in Georgia typically follow the rules established by the Georgia Arbitration Code (O.C.G.A. § 9-9-1 et seq.). During the proceedings, both parties present their arguments, evidence, and witnesses, akin to a trial. However, the process is typically less formal than litigation, providing a more flexible and expeditious means of resolution. 4. Arbitration Award: After considering all the arguments and evidence, the arbitrator(s) will issue a binding decision known as an arbitration award. This award is enforceable under Georgia law, and the parties must comply with its terms. Benefits of Georgia Submission to Arbitration: 1. Time and Cost Efficiency: Arbitration offers a faster and less expensive resolution compared to traditional litigation. Parties can avoid the lengthy court procedures and associated costs, accelerating the dispute's resolution. 2. Confidentiality and Flexibility: Arbitration proceedings remain confidential, ensuring sensitive business information stays protected. Additionally, parties have more flexibility to adapt the arbitral process to their needs, allowing for customized solutions. 3. Expertise of Arbitrators: The arbitrators appointed in construction-related disputes are often experienced in the construction industry. Their industry knowledge enables them to understand the technical complexities involved, leading to informed and fair decisions. Conclusion: Georgia's submission to arbitration for resolving disputes between building construction contractors and owners provides an efficient and cost-effective alternative to traditional litigation. Whether through voluntary or contractual submission, this method offers various benefits, including expedited resolution, confidentiality, and tailored expertise. By embracing arbitration, parties in construction disputes can preserve their business relationships and ensure a smoother path to dispute resolution.Georgia Submission to Arbitration of Dispute between Building Construction Contractor and Owner: A Comprehensive Guide Introduction: In the context of construction projects, disputes between building construction contractors and owners are unfortunately not uncommon. Resolving such conflicts through litigation can be time-consuming, costly, and can strain the relationship between the involved parties. To overcome these challenges, Georgia offers the option of arbitration, a form of alternative dispute resolution (ADR), as an efficient and effective method to settle construction-related disputes. This article provides a detailed description of Georgia's Submission to Arbitration process, highlighting its key aspects and relevant considerations. Key Keywords: Georgia, submission to arbitration, dispute resolution, building construction, contractor, owner, alternative dispute resolution. Types of Georgia Submission to Arbitration: 1. Voluntary Submission to Arbitration: In this scenario, the building construction contractor and owner willingly decide to refer their dispute to arbitration rather than pursuing traditional litigation. This type of submission allows both parties to maintain control over the arbitration process, including the choice of arbitrator(s), rules governing the proceedings, and the venue. 2. Contractual Submission to Arbitration: Often, construction contracts contain arbitration clauses, requiring the contractor and owner to resolve any potential disputes through arbitration. When a dispute arises, both parties are bound by the terms of the contract and must adhere to the specified arbitration procedure. Process of Georgia Submission to Arbitration: 1. Initiating the Arbitration Process: Either the building construction contractor or the owner must formally notify the other party of their intention to submit the dispute to arbitration. This notice often includes details such as the nature of the dispute, relevant contract provisions, and a proposal for selecting an arbitrator(s). 2. Selection of Arbitrator(s): If the contractor and owner agree on a single arbitrator, they can jointly appoint one. However, if no agreement is reached, each party may appoint an arbitrator, and the two appointed arbitrators jointly select the third arbitrator, who will act as the presiding arbitrator. 3. Arbitration Proceedings: Arbitration proceedings in Georgia typically follow the rules established by the Georgia Arbitration Code (O.C.G.A. § 9-9-1 et seq.). During the proceedings, both parties present their arguments, evidence, and witnesses, akin to a trial. However, the process is typically less formal than litigation, providing a more flexible and expeditious means of resolution. 4. Arbitration Award: After considering all the arguments and evidence, the arbitrator(s) will issue a binding decision known as an arbitration award. This award is enforceable under Georgia law, and the parties must comply with its terms. Benefits of Georgia Submission to Arbitration: 1. Time and Cost Efficiency: Arbitration offers a faster and less expensive resolution compared to traditional litigation. Parties can avoid the lengthy court procedures and associated costs, accelerating the dispute's resolution. 2. Confidentiality and Flexibility: Arbitration proceedings remain confidential, ensuring sensitive business information stays protected. Additionally, parties have more flexibility to adapt the arbitral process to their needs, allowing for customized solutions. 3. Expertise of Arbitrators: The arbitrators appointed in construction-related disputes are often experienced in the construction industry. Their industry knowledge enables them to understand the technical complexities involved, leading to informed and fair decisions. Conclusion: Georgia's submission to arbitration for resolving disputes between building construction contractors and owners provides an efficient and cost-effective alternative to traditional litigation. Whether through voluntary or contractual submission, this method offers various benefits, including expedited resolution, confidentiality, and tailored expertise. By embracing arbitration, parties in construction disputes can preserve their business relationships and ensure a smoother path to dispute resolution.
