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In my country, arbitration is NOT legally binding. That said, the court ruling is often the same but much more onerous costly and time consuming. Thus arbitrati
by shaqbert 9y ago
In my country, arbitration is NOT legally binding. That said, the court ruling is often the same but much more onerous costly and time consuming. Thus arbitration rulings are accepted 9 out of 10 times.
- Joeri 9y agoThe ability to take it to court keeps arbitration fair. Without that stick the carrot of simpler faster rulings wouldn't taste as sweet for long.
- splintercell 9y agoWhich country would that be? As far as I know majority of the countries are signatories of New York Convention [1] which makes arbitration binding. 1. https://en.wikipedia.org/wiki/Convention_on_the_Recognition_and_Enforcement_of_Foreign_Arbitral_Awards https://en.wikipedia.org/wiki/Convention_on_the_Recognition_...
- jaclaz 9y ago>which makes arbitration binding That is AFAIK for international arbitrations, does not affect "domestic" ones.