Arbitration in Aus and Png
Arvind
Arbitration
Arbitration has been defined by the Queensland Law society as a “form of dispute resolution falling outside the courts, so as to obtain a legally binding decision. Parties choose an independent expert namely, an arbitrator to perform the role of a judge, who is usually legally trained.”
Arbitration has numerous advantages: a) Binding decisions coupled with formality and the option for privacy
Some parties feel uncomfortable attending a hearing whereby the public and media has opportunity to attend. In such circumstances, parties value their privacy but also require a formal and binding proceeding. Arbitration is more suitable.
b) Speed and cost effectiveness
Patrick Keane CJ, in his opening speech at the International Dispute Resolution Conference firmly reiterated the benefit of arbitration as “quicker, more expert, and likely to be cheaper than the lengthier and elaborate proceedings in court”. Opting for arbitration, parties have the option to allocate time frames to resolve matters thus saving on legal fees as well as time wastage from running their businesses.
Australia
Australia has placed great value on arbitration by incorporating it into their constitution. In a landmark decision by the High Court of Australia on 13 March 2013, Australia was confirmed by the International Arbitration Act as an international cross border destination to resolve disputes via arbitration. (Totaro, ACICA 2013).
The High Court has given authority that Arbitration has a place within the Constitution to be legally binding when channeled through the appropriate bodies of Arbitration.
Australia has also signed the New York 1958 Convention allowing them to be bound by the widest form of arbitrary rules in the world.
An illustration of how entrenched arbitration is in Australia is evidenced by the case of Oil Basins Ltd v BHP Billiton Ltd. In this dispute the issue concerned the meaning of the term “overriding royalty” in their contract.
Arbitration
Arbitration has been defined by the Queensland Law society as a “form of dispute resolution falling outside the courts, so as to obtain a legally binding decision. Parties choose an independent expert namely, an arbitrator to perform the role of a judge, who is usually legally trained.”
Arbitration has numerous advantages: a) Binding decisions coupled with formality and the option for privacy
Some parties feel uncomfortable attending a hearing whereby the public and media has opportunity to attend. In such circumstances, parties value their privacy but also require a formal and binding proceeding. Arbitration is more suitable.
b) Speed and cost effectiveness
Patrick Keane CJ, in his opening speech at the International Dispute Resolution Conference firmly reiterated the benefit of arbitration as “quicker, more expert, and likely to be cheaper than the lengthier and elaborate proceedings in court”. Opting for arbitration, parties have the option to allocate time frames to resolve matters thus saving on legal fees as well as time wastage from running their businesses.
Australia
Australia has placed great value on arbitration by incorporating it into their constitution. In a landmark decision by the High Court of Australia on 13 March 2013, Australia was confirmed by the International Arbitration Act as an international cross border destination to resolve disputes via arbitration. (Totaro, ACICA 2013).
The High Court has given authority that Arbitration has a place within the Constitution to be legally binding when channeled through the appropriate bodies of Arbitration.
Australia has also signed the New York 1958 Convention allowing them to be bound by the widest form of arbitrary rules in the world.
An illustration of how entrenched arbitration is in Australia is evidenced by the case of Oil Basins Ltd v BHP Billiton Ltd. In this dispute the issue concerned the meaning of the term “overriding royalty” in their contract.
References: 1. Queensland Law Society 2013, accessed 16 May 2013, <http://www.ag.gov.au/Pages/default.aspx> 2. North J, 2005, Kuala Lumpur 2005, accessed 18 May 2013 <http://www.lawcouncil.asn.au/shadomx/apps/fms/fmsdownload.cfm?file_uuid=A831100C-1E4F-17FA-D2B7-9512F1BC96E3&siteName=lca> 3. Australian Centre for International Commercial Arbitration 2013, accessed on 18 May 2013. <http://acica.org.au/assets/media/news/ACICAIMFHighCourtWin13March2013-_3_.pdf> 4. Keane P, CJ, nd, ‘Judicial Support for Arbitration in Australia’, accessed on 18 May 2013 <.http://acica.org.au/assets/media/news/conferencepapers/The_Hon_Patrick_Keane_presentation_IDR_Conference.pdf> 5. Brown, R 2004, Advocacy and Adults with Down syndrome, e-book, accessed 18 May 2013, < http://books.google.com.au/books?id=dNpDB-f4Of0C&pg=PA2&dq=mediation+is+defined+as&hl=en&sa=X&ei=HNOZUbH_Kam5iQegYHoDQ&ved=0CDsQ6AEwAg#v=onepage&q=mediation%20is%20defined%20as&f=false> 6. British Columbia International Commercial Arbitration Centre (BCICAC) nd, Difference between Arbitration and Mediation, accessed 17 May 2013,<http://bcicac.com/about/what-is-mediationarbitration/difference-between-arbitration-and-mediation/> 7. ‘Mediation easing court congestion in Papua New Guinea’ 2010, radio program transcript, ABC RADIO AUSTRALIA, accessed on 19 May 2013. <http://www.radioaustralia.net.au/international/radio/onairhighlights/mediation-easing-court-congestion-in-papua-new-guinea> -------------------------------------------- [ 1 ]. National Alternative Dispute Resolution Advisory Council