The primary contributor to this site authored a book published in 1999 (now out-of -print) on Ontario and federal arbitration statutes. This was preceded by articles published in various USA and Canadian publications including one in the Canadian Family Law Quarterly. The contents of that article were used by Catherine Morris in her preparation of a Paper for the Ministry of Attorney General of British Columbia: Untitled (peacemakers.ca).
Arbitration in a Nutshell: The parties sign an arbitration agreement in which they agree as to the type of hearing they will have. It may be as formal as a court proceeding or much more casual. The parties agree on the arbitrator who acts very much as a judge would in a courtroom but is likely less formal. The arbitrator will reach a decision referred to as an award which may be enforced very much like a court judgment. The arbitrator selected is often a person trained in law or an expert in the field (such as accounting or aviation) which is involved in the dispute. Arbitration is certainly private and likely faster than waiting for a court to hear the case and decide the dispute,
Is Arbitration Really Less Costly than Courtroom Litigation? Speed, privacy and reduced costs are among the benefits often attributed to binding arbitration over courtroom determinations. But in an arbitration, there will be the costs of paying the arbitrator or arbitrators and for the “place” (forum) where the proceedings will occur. Translation costs are not uncommon. Then, each party has its lawyer’s and other preparation costs. In arbitrations, it is common to have the losing party pay for most of the costs of the successful party. The cost of large commercial arbitrations, especially if a panel of arbitrators is selected, will be enormous – in the millions of dollars.
This website and the companion website provide general information. It is not legal advice. Copyrighted. Look to the book Canadian Law and Business Studies for law information on 20 other legal topics: https://bit.ly/3Ay0lSR.