After a merits hearing involving cross-examination, the tribunal issues a "Final Award." This award is final and binding, with very limited grounds for appeal (usually only for procedural unfairness, not for a "wrong" decision). 3. Why Businesses Choose Arbitration
Instead of rigid rules of civil procedure, the tribunal issues "Procedural Order No. 1," which sets the timetable for briefs, document production (discovery), and witness statements. The Principles and Practice of International Co...
A typical arbitration follows a structured path, though it is more flexible than a courtroom trial: After a merits hearing involving cross-examination