Reconciliation Process: A Statutory Arbitration Process

he institution chosen by the parties is experienced in the particular subject matter of the dispute. An experienced institution normally has a checklist of potential arbitrators who are more competence in the particular field of dispute, from which the parties may choose their own arbitrator or let the institution to select one for them.

Ad-hoc arbitration is commonly used when a dispute had arisen in between the contending parties regarding to any commercial transaction where the parties are unable to reach a mutually agreed settlement by negotiation, mediation or conciliation. If that is the case, arbitration process can be sought by the contracting parties. This arbitration procedure is agreed only to obtain justice for the part of the

The proceeding of this type of arbitration is such that the disputing parties are assigned to the arbitrator in the circumstances of the provision which is made in such a state. Statutory arbitration is also a mandatory one. It is inflicted on the disputing parties by the operation of the law of the country. The parties have no any other choice rather than to follow the law of the land. In such case, the consent of the parties are clearly not needed. It is mandatory to be abide by the parties as the law of the

In this case, the parties of the dispute produce their own cases. Later, they will inquire the arbitrator to decide one out of the two. Based on the evidence proved by the parties, the arbitrator will conclude upon the preciseness of either submissions of the parties and later grant an award in favor of the particular party. This type of arbitration had been defined as a kind of arbitrator where the arbitrator himself bases his award on the submissions of the disputing parties which he thinks is more reasonable and legitimate. It is proven that this will strengthen and encourage both parties to be more honest in their submissions in order to prevent diffraction. Sometimes, flip-flop arbitration is also known as the ‘pendulum arbitration’, which is mostly recommended in matters related to employment arbitrations. This method is embraced on the ground that the disputing parties, being a businessman, will be taking a more businesslike and down-to-earth way to settle their conflict. They should also be encouraged