Arbitrators

The video tutorial explains the role and selection of arbitrators in dispute resolution. It covers the criteria for choosing arbitrators, emphasizing their required expertise and impartiality. Various methods for selecting arbitrators are discussed, including each party choosing one arbitrator, who then select a third. The video also addresses the fee structure, highlighting the importance of splitting costs to prevent undue influence.

What is a key requirement for someone to be an arbitrator?

• They must be a judge.

• They need to be a government official.

• They should have expertise in the dispute area.

• They must be a lawyer.

Why is it important for arbitrators to be disinterested parties?

• To ensure they have legal authority.

• To prevent bias towards any party.

• To guarantee a quick resolution.

• To reduce the cost of arbitration.

How can parties choose an arbitrator?

• By selecting from a government list.

• By mutual agreement on a single arbitrator.

• By drawing lots.

• Each party selects one arbitrator, and those two choose a third.

What is a common practice regarding the payment of arbitrators?

• The arbitrator works for free.

• The losing party pays the full fee.

• The government pays the fee.

• The fee is split between the parties.

What is the purpose of splitting the arbitrator's fee between the parties?

• To prevent any party from having undue influence.

• To ensure the arbitrator is paid fairly.

• To make the process faster.

• To comply with legal requirements.