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. 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
- Cost effective
Fixed price arbitration is available, with pricing starting from $7000. When you get in touch with our team, we can provide you with a quote based on your requirements.
How arbitration works
1. Get in touch
FairWay will guide you through the process of:
- Engaging the other party
- Getting agreement to arbitrate (agreeing to FairWay administering the arbitration and setting out the rules and the process)
- 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.
In most cases the arbitration can be done “on the papers” without the need for a hearing.
Please note that parties can continue their communication during the arbitration process and reach their own consensual agreement.