You can save thousands of dollars, as well as many days of valuable time, by using arbitration instead of going to Court. Arbitration involves both parties to the dispute appointing an independent arbitrator to decide the outcome. The arbitrator will often be an expert in the type of business or industry involved.
It can be easy, however, for these types of clauses to cause further problems if they are not drafted properly. Before including a requirement for arbitration in your contract, you should speak to a lawyer to ensure that the clause does what you want it to do, without unwittingly causing undue delay and uncertainty.
If you require assistance, please give us a call on 1300 205 506 or send an email to sp@sharrockpitman.com.au.
The information contained in this article is intended to be of a general nature only and should not be relied upon as legal advice. Any legal matters should be discussed specifically with one of our lawyers.
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Caroline Callegari is an Associate Principal and leads our Disputes & Litigation team. She has an advisory and advocacy practice in the following areas: Commercial Litigation, corporate and personal disputes, debt recovery and, insolvency and bankruptcy matters. Caroline can be contacted on (03) 8561 3324 or by emailing caroline@sharrockpitman.com.au.
