In: Economics
What do you think about arbitration? Does it protect the interest of the litigants? What about the fact that the dominant party usually selects which person or entity that will be the arbitrator? Look at the King County rules and locate the rules for arbitration. Do you agree that the court should force parties to mandatory arbitration?
ARBITRATION:
Arbitration is established in a well way and used for end the disputes. it is one of the type of dispute resolution that provides parties to a disagreement with a choice to legal action of the others .arbitration is that procedure by which disputes of parties is submitted .
Does it protect the interest of the litigants?
Yes! Arbitration protect the interest of litigants. Litigants are that person who is in involved in a legal case of civil. , because they can make a formal complaint any one. It can be an individual, organization or a company .litigant is that person who involved in a lawsuit.
King country rules for the arbitration:
Current arbitration rule as of 1 march 2017, and below to ICC arbitration rules and these are used to resolve the disputes all around the world.it offers the various benefits to the international business disputes resolution .it proved services regarding privacy offer, freedom regarding national court, national procedure law, space and freedom regarding choose one’s arbitrator.
Court regarding mandatory arbitration:
Arbitration is an alternative way to resolve the dispute among the parties and they agree voluntarily. Court decided the arbitration that arbitrability delegate questions to the arbitrator. Supreme court decided a New Prime Inc. .V. oliveira on January 15, 2019 and in this court cannot enforce a arbitration of mandatory agreement under the Federal Arbitration Act (FAA).