Well, Did You Choose the Right Arbitrator?
Kome Oruade
Abstract
Kome Oruade
Abstract
A successful arbitration always requires the arbitral tribunal’s adroit handling of the proceedings. This is more so because tribunal’s composition often determines the success or failure of the proceedings. Hence, J.F. Lalive opines that “[t]he choice of the persons who compose the arbitral tribunal is vital and often the most decisive step to an arbitration. It has rightly been said that arbitration is only as good as the arbitrator.” Leading authors in arbitration, Redfern and Hunter, agree with this position. The authors hold the view that after the decision to refer a dispute to arbitration has been made, the choice of the arbitrator becomes critical. The life of the arbitration depends on the arbitrators. “It is above all, the quality of the arbitral tribunal that makes or breaks the arbitration…” The decision on the composition of the arbitral tribunal should be made wisely, because a “[c]areless selection can result, at best, in spending more time and money getting to a winning result than should have been necessary and, at worst, in jeopardising prospects of success”. And “arbitral appointments can soon readily become arbitral disappointments”. How can parties and their counsel avoid ‘arbitral disappointments’? Parties can begin by researching the arbitrator-candidates to be certain the candidates meet the 5Cs criteria discussed in this article.
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A successful arbitration always requires the arbitral tribunal’s adroit handling of the proceedings. This is more so because tribunal’s composition often determines the success or failure of the proceedings. Hence, J.F. Lalive opines that “[t]he choice of the persons who compose the arbitral tribunal is vital and often the most decisive step to an arbitration. It has rightly been said that arbitration is only as good as the arbitrator.” Leading authors in arbitration, Redfern and Hunter, agree with this position. The authors hold the view that after the decision to refer a dispute to arbitration has been made, the choice of the arbitrator becomes critical. The life of the arbitration depends on the arbitrators. “It is above all, the quality of the arbitral tribunal that makes or breaks the arbitration…” The decision on the composition of the arbitral tribunal should be made wisely, because a “[c]areless selection can result, at best, in spending more time and money getting to a winning result than should have been necessary and, at worst, in jeopardising prospects of success”. And “arbitral appointments can soon readily become arbitral disappointments”. How can parties and their counsel avoid ‘arbitral disappointments’? Parties can begin by researching the arbitrator-candidates to be certain the candidates meet the 5Cs criteria discussed in this article.
Key concepts: Tribunal, Arbitration, Compulsory arbitration, Law, Business, Position (finance), Political science, Law and economics