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Disadvantages of arbitration, Business Law and Ethics
Disadvantages of Arbitration
First is, Arbitral awards have no precedential value as that they cannot be relied on in subsequent proceedings
Second is, Arbitration is characterized through the danger of miscarriage of the likelihood of justice particularly when the arbitrator is not a legal or certain expert
Third is, Arbitrators exercise unregulated discretion and thus the danger of power of abuse
Forth is, Arbitrators are more susceptible to manipulation the judges and the magistrates
Fifth is, the fact that proceedings are conducted in private might raise suspicion.
Posted Date: 1/21/2013 8:04:25 AM | Location : United States
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