Commercial Arbitrators

Commercial Arbitrators are professional arbitrators who specialise in commercial dispute resolution. Commercial arbitrators are normally appointed by the parties at the time of the dispute, rather than expressly named in the arbitration clause of the contract.

There are usually either one or three commercial arbitrators on each tribunal. When three are appointed it is customary that each party appoints one, and the third is approved by both parties. The arbitrators are usually chosen based on their professional experience and area of specialisation. This guarantees the parties a more time-efficient dispute-resolution process, as highly complex professional matters can be discussed without the need to first explain the fundamentals. Commercial arbitrators will therefore commonly specialise in specific sub-fields of commercial issues, such as maritime contracts or structured finance.

Commercial arbitrators may prove to be a superior alternative to litigation because the arbitration process tends to be much more time-efficient and cost-effective. However, there are certain limitations placed on the parties in an arbitration process which may deter you from including an arbitration clause in a commercial contract. Most of these limitations are governed by the Arbitration Act 1996.

If you are party to a contract which includes an arbitration clause, you should refer to the clause and ascertain which rules of arbitration are included. This is often done by reference to pre-existing rules which are published by professional bodies such as the International Chambers of Commerce. Once you are familiar with the rules, your next step would be to research how many arbitrators are to be appointed and by whom.

If you would like to obtain legal advice on Commercial Arbitrators, Contact Law can put you in touch with a local specialist Arbitration Solicitor free of charge. So, if you have any questions or would like our help in finding local Arbitration Solicitors please call us on 0800 1777 162 or complete the web-form above.