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.
Title: New York Submission to Arbitration of Dispute between Building Construction Contractor and Owner Introduction: In the realm of building construction contracts, disagreements between contractors and owners can sometimes escalate into full-blown disputes. To resolve such conflicts in a fair and efficient manner, parties involved can opt for the arbitration process. This article provides a detailed description of New York's approach to the submission of disputes to arbitration between building construction contractors and owners. We will also explore some variations and specific types of submissions seen in New York. I. Understanding Arbitration in New York Construction Disputes: Arbitration is an alternative dispute resolution method where a neutral third party, the arbitrator, is chosen by the parties to hear and review the dispute. In New York, arbitration is governed by the New York Convention and the New York State Arbitration Act. It offers a streamlined and private process compared to traditional court litigation. II. Key Features of New York's Submission to Arbitration: 1. Voluntary Agreement: Generally, both parties must voluntarily agree to submit their dispute to arbitration. This agreement may be explicitly provided in the original contract or be decided upon after the dispute has arisen. 2. Selection of Arbitrators: Parties can select arbitrators through mutual agreement or follow established procedures specified in the contract. New York allows for both single arbitrators and panels composed of multiple arbitrators, depending on the complexity and size of the dispute. The chosen arbitrator(s) must be neutral and have expertise in relevant construction matters. 3. Submission Agreement: Parties must draft and sign a submission agreement that outlines the specifics of the arbitration, including details of the dispute, selected arbitrators, rules governing the process, and any agreed-upon deadlines. 4. Arbitration Rules and Procedures: While parties have some autonomy to choose specific arbitration rules, many opt to follow established rules such as those provided by the American Arbitration Association (AAA) or the International Chamber of Commerce (ICC). These rules serve as guidelines for both the conduct of the arbitration and the resolution of the dispute. 5. Confidentiality: New York places high importance on maintaining confidentiality during arbitration proceedings. As a result, parties are more likely to avoid public exposure of sensitive information compared to traditional court litigation. III. Types of New York Submissions to Arbitration: 1. Ad Hoc Arbitration: Ad hoc arbitration involves the parties directly choosing the arbitration rules and procedures, rather than relying on established organizations to administer the process. This allows for greater flexibility and customization in resolving the dispute. 2. Institutional Arbitration: Parties may choose to submit their dispute to institutional arbitration, where established organizations like the American Arbitration Association (AAA) or the International Chamber of Commerce (ICC) administer the arbitration process. These organizations provide pre-determined rules, facilities, and administrative support. 3. Construction Industry Arbitration: In the construction industry, parties may encounter specific types of arbitration, such as Dispute Review Boards (Dubs) or Tripartite Boards. These specialized forms of arbitration are designed to facilitate dispute resolution within the construction sector and ensure timely completion of projects. Conclusion: New York's submission to arbitration for building construction disputes offers a flexible and efficient alternative to traditional court litigation. By agreeing voluntarily, selecting impartial arbitrators, and adhering to established rules and procedures, parties can resolve disputes with relative confidentiality and gain a swifter resolution. Moreover, the availability of specific types of submissions, including ad hoc arbitration, institutional arbitration, and construction industry arbitration, offers further options to suit the particular needs of the involved parties.Title: New York Submission to Arbitration of Dispute between Building Construction Contractor and Owner Introduction: In the realm of building construction contracts, disagreements between contractors and owners can sometimes escalate into full-blown disputes. To resolve such conflicts in a fair and efficient manner, parties involved can opt for the arbitration process. This article provides a detailed description of New York's approach to the submission of disputes to arbitration between building construction contractors and owners. We will also explore some variations and specific types of submissions seen in New York. I. Understanding Arbitration in New York Construction Disputes: Arbitration is an alternative dispute resolution method where a neutral third party, the arbitrator, is chosen by the parties to hear and review the dispute. In New York, arbitration is governed by the New York Convention and the New York State Arbitration Act. It offers a streamlined and private process compared to traditional court litigation. II. Key Features of New York's Submission to Arbitration: 1. Voluntary Agreement: Generally, both parties must voluntarily agree to submit their dispute to arbitration. This agreement may be explicitly provided in the original contract or be decided upon after the dispute has arisen. 2. Selection of Arbitrators: Parties can select arbitrators through mutual agreement or follow established procedures specified in the contract. New York allows for both single arbitrators and panels composed of multiple arbitrators, depending on the complexity and size of the dispute. The chosen arbitrator(s) must be neutral and have expertise in relevant construction matters. 3. Submission Agreement: Parties must draft and sign a submission agreement that outlines the specifics of the arbitration, including details of the dispute, selected arbitrators, rules governing the process, and any agreed-upon deadlines. 4. Arbitration Rules and Procedures: While parties have some autonomy to choose specific arbitration rules, many opt to follow established rules such as those provided by the American Arbitration Association (AAA) or the International Chamber of Commerce (ICC). These rules serve as guidelines for both the conduct of the arbitration and the resolution of the dispute. 5. Confidentiality: New York places high importance on maintaining confidentiality during arbitration proceedings. As a result, parties are more likely to avoid public exposure of sensitive information compared to traditional court litigation. III. Types of New York Submissions to Arbitration: 1. Ad Hoc Arbitration: Ad hoc arbitration involves the parties directly choosing the arbitration rules and procedures, rather than relying on established organizations to administer the process. This allows for greater flexibility and customization in resolving the dispute. 2. Institutional Arbitration: Parties may choose to submit their dispute to institutional arbitration, where established organizations like the American Arbitration Association (AAA) or the International Chamber of Commerce (ICC) administer the arbitration process. These organizations provide pre-determined rules, facilities, and administrative support. 3. Construction Industry Arbitration: In the construction industry, parties may encounter specific types of arbitration, such as Dispute Review Boards (Dubs) or Tripartite Boards. These specialized forms of arbitration are designed to facilitate dispute resolution within the construction sector and ensure timely completion of projects. Conclusion: New York's submission to arbitration for building construction disputes offers a flexible and efficient alternative to traditional court litigation. By agreeing voluntarily, selecting impartial arbitrators, and adhering to established rules and procedures, parties can resolve disputes with relative confidentiality and gain a swifter resolution. Moreover, the availability of specific types of submissions, including ad hoc arbitration, institutional arbitration, and construction industry arbitration, offers further options to suit the particular needs of the involved parties.
