Individual referees mean less effort and delay. In general, a single arbitrator`s arbitration procedure is likely to cost a total of about half (or less) of an arbitration with three arbitrators. There are also arbitration clauses for expedited proceedings and corporate law. The seat or arbitration tribunal is [the State of Georgia, United States of America, in the city of Atlanta, Fulton County].3 2. The party bringing an arbitral award (hereafter referred to as the “applicant party”) sends the other party (hereafter referred to as “respondent”) a copy of the arbitration which: 6. In the event of a non-recourse of one of the parties to a Court order of procedure, the court has the power to continue the arbitration process and to render its award. Another advantage of institutional arbitration is that parties and arbitrators can seek the assistance and advice of institutional staff. In a less formal ad hoc agreement, the parties to the arbitration would have to go to the court to move the arbitration forward, which would inevitably result in further expenses. 7. Where an arbitrator appointed by one of the parties is unable to participate in the arbitration or to participate in the content of the dispute at any time after the hearings begin or refuses to participate in the content of the dispute, the two remaining arbitrators may continue the arbitration process and issue an arbitration award without a vacancy being considered nascent if, at its sole discretion, , they note that the failure or refusal of the other arbitrator to participate is done without an appropriate excuse. It is said that the parties are the masters of conciliation.
This is, however, debatable in institutional arbitration, where the institution can effectively acquire the decision-making powers of the parties – such as the appointment of arbitrators – and impose its will on the parties. This seems to be contrary to the spirit of conciliation. Although ad hoc arbitration seems preferable in today`s modern and commercially complex world, it is really only suitable for minor, less prosperous parties in national arbitration. Parties wishing to include an ad hoc arbitration clause in the underlying contract between them or who wish to agree on the terms of arbitration after the opening of a dispute have the opportunity to negotiate a comprehensive set of rules that meet their needs. However, this approach can require a great deal of time, attention and cost, without guaranteeing that the terms finally agreed to affect all contingencies. If the parties have not agreed on the terms of arbitration before a dispute arises, it is unlikely that they will cooperate with the disputed agreement as soon as a dispute has been formed.