Reference no: EM133710181
Question
In recent years, there has been a rise in the use of different types of arbitration, including ad hoc arbitration, institutional arbitration, and fast-track arbitration, each having their distinct advantages and disadvantages.
1. In your opinion, which type of arbitration is the most effective in settling disputes and why?
Also, consider factors such as the nature and complexity of the dispute, the resources of the parties involved, the need for specialized expertise, and the importance of time and cost efficiency.
2. Discuss potential improvements or innovations that could enhance the effectiveness of your chosen type of arbitration.
3. Should the refusal to comply with the arbitrator's award be considered a breach of contract case.
4. How can arbitrators maintain the relationship among parties during difficult and emotional sessions?
5. Discuss the Uniform Arbitration Act and its requirements that awards must be in writing.