Alternative Dispute Resolution (ADR) is a quick and less expensive way that you can adopt to settle disputes outside the Court process. Arbitration is one of the forms of ADR. Mediation is another.
There are several ways that you can submit your matters in dispute to arbitration. You can achieve this by either stipulating so in your contract, or on consent by you and the other party involved in a dispute, or through application to court for an order, or by the operation of a legislative/regulatory process.
When you activate the arbitration process by a Notice to Arbitrate, along with any filing fee, if required, and the other party has responded, the arbitral tribunal will be formally appointed . You will be given notice of a pre-hearing conference by the arbitral tribunal. Thereafter, procedural matters as well as issues and questions to be submitted to arbitration will be confirmed and clarified.
The arbitral tribunal may hold an oral hearing or take and consider written submissions. At the end of the process, the arbitration award is provided in writing and released once the whole of the arbitration account is paid in full. Both parties typically share the costs of arbitration.
As a Qualified Arbitrator at Oyenubi Law, Mr. A. O. Oyenubi is available to serve on a panel of three arbitrators or as a sole arbitrator, and will accept appointments in both local and international business, commercial, real property, and maritime arbitration, at a reasonably hourly rate.
We are also available to appear as counsel for parties in arbitration hearings.
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