Arbitration is another form of Dispute Resolution, in relation to financial and children matters. The participants enter into an agreement under which they appoint a suitably qualified person (an “arbitrator”) to adjudicate their dispute and to make an award. The decision of the arbitrator then binds the parties and is enforceable through the courts, much like a judgement. The process itself affords complete privacy.
A significant difference between arbitration and litigation is that many aspects of the arbitration process will be governed or influenced by the agreement of the parties who will chose the identity of the arbitrator, the rules governing the arbitration, the type of procedure to be followed and where the arbitration is to take place.
Arbitration has a long history in certain areas of law and has since 2012 been available in family law finance cases under the auspices of the Institute of Family Law Arbitrators and most recently for Children Arbitration since July 2016 (http://ifla.org.uk).
At present, we have five members of chambers who are Finance Arbitrators and two who are Children Arbitrators all are Members of the Chartered Institute of Arbitrators and the Institute of Family Law Arbitrators.
James Roberts is a Board member of the Institute of Family Law Arbitrators Ltd.