Legal English: Alternative Dispute Resolution 8

These flashcards cover key concepts and terminology related to Alternative Dispute Resolution and its processes.

Alternative Dispute Resolution (ADR)

A method used to resolve disputes outside of court, including mediation, conciliation, and arbitration.

Mediation

An ADR process involving a neutral third party who helps both sides to reach a voluntary agreement.

Conciliation

Similar to mediation, but it considers legal factors along with common sense in reaching a resolution.

Arbitration

An ADR method where a third party makes a binding decision on the dispute after hearing both sides.

Arbitrator

An independent person appointed to make a decision in the arbitration process.

Ad Hoc Arbitration

A form of arbitration where the parties determine the rules for the process.

Administered Arbitration

Arbitration conducted under the rules of an arbitral organization.

International Chamber of Commerce (ICC)

An organization involved in administration of international arbitration.

UNCITRAL

United Nations Commission on International Trade Law, responsible for harmonizing international arbitration laws.

Arbitration Clause

A contract provision in which parties agree to resolve disputes through arbitration.

History of Arbitration

The development and legislative support of arbitration to resolve commercial disputes efficiently, starting with the Arbitration Act of 1698.

Benefits of ADR

ADR is generally faster, cheaper, and more confidential compared to litigation.

Drawbacks of ADR

Issues may remain unresolved, and decisions are not legally binding precedents.