Faculty of Humanities and Social Science > Law
BIAC-a center for alternative dispute resolution
farzanamili:
20. What happens after the parties settle their dispute through mediation?
After a settlement is reached through mediation, the parties would normally sign the terms of settlement drafted by the mediator (with the assistance of both sides and their respective lawyers if they so desire). If mediation does not resolve the dispute, then the parties have the freedom to take recourse to other legal remedies, such as arbitration (if they agree, and the matter is arbitrable) or litigation in court.
source:BIAC
farzanamili:
21. What are the different types of arbitration?
In general, there are two types of arbitration: Institutional or Administered and Ad hoc.
Institutional Arbitration: where parties adopt rules and processes of an arbitral institution which manages the process. Institutional or administered arbitration proceedings are administered by an arbitration institute, such as the Bangladesh International Arbitration Centre (“BIAC”), the International Chamber of Commerce (“ICC”), etc. These are conducted under the arbitration rules of the institution concerned.
Ad hoc Arbitration: where parties construct a process themselves. Ad hoc arbitrations are arranged solely between the arbitrators and the parties. They may adopt a readymade set of arbitration rules or simply work under the directions of the arbitral tribunal. The arbitral tribunal and the parties ensure that the laws of the place of arbitration are not violated.
source:BIAC
farzanamili:
22. What are the advantages of Institutional Arbitration over that of Ad hoc Arbitration?
Advantages of Institutional Arbitration:
a. Institution provides support services,
b. Institution’s have declared procedures and schedules,
c. Institution provides hearing facilities,
d. Appointment of neutral arbitrator from a panel, where the party-nominated arbitrators are unable to agree on the third arbitrator,
e. Quality Control,
f. Timeliness
In administered arbitration, scope of uncertainty relating to appointment of arbitrators, their fees, time frame of arbitration, determining challenges to arbitrators, interim measures etc are much less as set rules are followed.
Secondly, in administered arbitration, costs and time are better controlled under the supervision of an arbitration institution.
Thirdly, institutional or administered arbitration has the benefit of ensuring that the proceedings are proper, fair and according to the rules. Arbitration institutions may also exercise a degree of “quality control”. Adopting an established set of arbitration rules has the obvious benefit of avoiding arbitrators constantly having to “reinvent the wheel” in applying appropriate procedures.
There is transparency and predictability in institutional arbitration. The weaker of the parties will usually prefer institutional arbitration.
source:BIAC
farzanamili:
23. What are the advantages of ad hoc arbitration?
In ad-hoc arbitration, no administrative fees are payable to an arbitration institution. It may also provide the parties with flexibility to devise rules and procedures appropriate to their disputes. In practice, however, devising and agreeing to a set of ad hoc procedures may require substantial specialist input and detailed negotiation between the parties. Furthermore, there is no institutional check on the cost of arbitration, particularly on account of arbitrator’s fees.
Source: BIAC
AbdurRahim:
thanks
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