An arbitrator fulfils a role similar to that of a judge, though many of the procedures can be considered less formal. Arbitration is a procedure whereby parties who are in dispute agree to be bound by the decision of an independent third party (the arbitrator).
The arbitrator’s final decision is his or her evaluative opinion based on the persuasiveness of evidence and arguments parties submit.
Most property or construction disputes can be settled far more quickly by arbitration than going through the courts. Arbitration is private and usually informal, even though the parties can be represented by a chartered surveyor, solicitor or barrister.
Our arbitrator will understand the problems faced by the parties in a property or construction dispute.
An arbitrator's decision is final and binding. Having had a dispute decided by arbitration, a party cannot thereafter refer the same matter to the courts.
Parties must both agree to be bound by the arbitrator’s decision. These are usually in contracts, but new agreement can be drawn up once the dispute has arisen. We charge a $250.00 AUD appointment fee to nominate an arbitrator. The arbitrator will agree a reasonable fee with the parties.
To apply for an arbitrator, please email names and contact details of all parties, and an overview of the issue to RICS DRS.