The Role of Arbitrators in Effective Time and Cost Reduction
Article from: TDM 4 (2018), in Time and Cost Issues in International Arbitration
One of the main advantages of arbitration is to resolve disputes quickly and cheaply. However, in recent years, arbitration players have been witnessing lengthy and expensive arbitration proceedings which might have an adverse effect on the utility of this private justice mechanism. Although party counsels can play a major role in reducing the time and costs, this is not their priority, since they are ordered to win the case and it might be difficult for them to strike a balance between reduction of time and cost on one hand and exerting full force in a case to win it on the other hand. ...