Arbitration is a private method of dispute resolution traditionally used in commerce and business issues, however it is increasingly – and successfully – being applied to matters of family law to resolve financial settlements between separating couples out of court.
Arbitration can be used effectively by individuals and couples who wish to come to an amicable agreement without the need to go to court. People who use arbitration have much more control over the process than those who take their case to court, since arbitration can be tailored to suit the participants’ schedules and needs. Arbitration can be used for specific issues or a dispute as a whole, and clients are able to appoint their choice of arbitrator as well as deciding on the timescale and location of meetings. Some arbitrators also offer fixed fee services for each stage of the process to make it easier for clients to budget for legal fees.
Following a recent arbitration application brought to court, it has been shown that the family courts approve and in fact encourage arbitration as a way of streamlining the process of resolution, and recognise that ‘other forms of alternative dispute resolution have become well-established as a means of resolving financial disputes on divorce.’
For more information on arbitration, or to speak to a family lawyer about the alternative options for dispute resolution and separation, please get in touch with Frances Lindsay & Co at www.franceslindsay.co.uk.