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ARB97

Arbitration Act

NZ $44.00
Publications
Author(s): Fred Thorp, David Williams
Published: 5 May, 1997
Pages: 74

   

Introduction


What is arbitration?

1. While the parties are free to decide on the procedural rules which shall govern their arbitration, arbitration must always reflect certain basic elements.

2. Halsburys Laws of England 4th Ed defines arbitration as follows:-
Arbitration is the process by which a dispute or difference between two or more parties as to their mutual legal rights and liabilities is referred to and determined judicially and with binding effect by the application of law by one or more persons (the arbitral tribunal) instead of by a Court of law. The decision of the arbitral tribunal is usually called an award...
The dispute or difference must relate to a matter capable of being determined in civil proceedings between the parties and being compromised by accord and satisfaction. It therefore does not extend to a criminal charge. Nor can arbitration cover proceedings seeking a change in status, such as a divorce, or an action in rem against a vessel.
The arbitral tribunal may consist of one or more arbitrators, in practice normally one or three. ....
The arbitral tribunal must be impartial. It must also decide the dispute on the basis of such evidence and submissions as the parties seek to make to it, where the nature of the dispute does not render this inappropriate.
It is of the nature of arbitration that the decision of the arbitral tribunal shall be legally binding and enforceable as between the parties. In accordance with this principle, the award of the arbitral tribunal is legally enforceable and gives rise to defences of res judicata in subsequent proceedings.
 

Content outline

  • The new Act
  • Arbitral procedure under the new Act
  • Costs and expenses of an arbitration
  • Recourse against aware
  • Appeals on questions of law
  • Recognition and enforcement of awards
  • International commercial arbitration
View contents page

 

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