Arbitration is similar to having a private judge. It is a formal process where an independent person makes a decision on a dispute, governed by the Property Law Act 2007 and the Arbitration Act 1996.
Arbitrations can be completed far more quickly than Court hearings, with many cases being able to be determined within just a few weeks (the maximum is 50 business days). Arbitration also provides for total confidentiality and is more cost-efficient than going to Court. By engaging in arbitration, the parties can choose who will make the decision and within what timeframes.
- More control – who makes the decision, when, where and on what basis
A subsidised service is available as part of the Government’s economic response to the COVID-19 pandemic. The fixed-price for arbitration is $8,000 – with the Government funding $6,000 towards the costs. The remaining balance of $2000 is payable by the lessee and lessor.
How arbitration works
1. Get in touch
FairWay will guide you through the process of:
- Engaging the other party
- Getting agreement to arbitrate (setting the rules and process out)
- Appointing an arbitrator
2. Case Conference (if required)
If required, a case conference will be arranged. This is an opportunity to:
- Define the issues
- Agree next steps
- Establish a timeframe
The lessee and lessor provide:
The arbitrator will:
Make a decision based on the documents provided.
Please note that parties can continue their communication during the arbitration process and reach their own consensual agreement.