"Realistically, we're never going to agree. We just want someone to decide for us..."
Solution: A qualified Arbitrator can make a binding decision for you in a few days..."
If the reality is that it’s next to impossible that the two of you will ever agree terms, then rather than drift along for years in frustrated limbo, you can indeed get someone else to make a decision for you.
You could ask a judge to do that, but it takes around $200,000 in legal fees and a 2 to 4 year wait to get to a judge. A much more sensible option is to ask an Arbitrator to help. Arbitration can be completed in a fraction of the time of a court case and is legally binding.
You could ask a judge to do that, but it takes around $200,000 in legal fees and a 2 to 4 year wait to get to a judge. A much more sensible option is to ask an Arbitrator to help. Arbitration can be completed in a fraction of the time of a court case and is legally binding.
What is Arbitration?
Arbitration is a process where you and your former partner agree to appoint a private arbitrator to decide how your assets and liabilities should be divided between you.
The arbitrator has to apply the principles set out in the Family Law Act 1975, or in de facto cases, the Family Court Act 1997.
You might ask the Arbitrator to make a decision (called an “Award”) about all of your wealth. But if you are agreed on most matters but have a single item you cannot agree upon - for example the split of net cash from a house sale - you could ask the arbitrator to only decide upon that one item.
The arbitrator has to apply the principles set out in the Family Law Act 1975, or in de facto cases, the Family Court Act 1997.
You might ask the Arbitrator to make a decision (called an “Award”) about all of your wealth. But if you are agreed on most matters but have a single item you cannot agree upon - for example the split of net cash from a house sale - you could ask the arbitrator to only decide upon that one item.
The Benefits of Arbitration
The critical thing to understand about an Arbitration is that it is binding. You agree in advance that you will accept the Arbitrator’s decision. Once the decision is made, it is registered with the Court as a binding decision. The decision can be enforced if one of you does not comply.
Obviously, Family Law Arbitrators are highly experienced in family law. They may have been barristers and may even be retired judges.
The reason many people choose Arbitration is that it's just as binding as going to Court, but takes a fraction of the time and cost. And you can be reasonably confident the decision is likely to be similar to what a judge might decide.
Although Arbitration is more expensive than mediation, it is the only option that guarantees a resolution of the dispute, other than going all the way through a court trial. If you have not been able to reach agreement via mediation, Arbitration can be the most time effective and cost effective way to get a decision made, so that your matter can be resolved once and for all and you can move on with your life.
Obviously, Family Law Arbitrators are highly experienced in family law. They may have been barristers and may even be retired judges.
The reason many people choose Arbitration is that it's just as binding as going to Court, but takes a fraction of the time and cost. And you can be reasonably confident the decision is likely to be similar to what a judge might decide.
Although Arbitration is more expensive than mediation, it is the only option that guarantees a resolution of the dispute, other than going all the way through a court trial. If you have not been able to reach agreement via mediation, Arbitration can be the most time effective and cost effective way to get a decision made, so that your matter can be resolved once and for all and you can move on with your life.
Arbitration is the only option that guarantees a resolution of your dispute, other than going through a 2 to 4 year court trial.
Fees
Fees for Arbitration depend upon the complexity of what needs to be resolved and also the method.
For example, a decision that is made by the Arbitrator based on papers submitted to him or her is usually considerably less expensive than one where you each present your case face to face (and without or without lawyers).
As a broad guide, you can expect arbitration to cost between $4,000 and $10,000 each.
For example, a decision that is made by the Arbitrator based on papers submitted to him or her is usually considerably less expensive than one where you each present your case face to face (and without or without lawyers).
As a broad guide, you can expect arbitration to cost between $4,000 and $10,000 each.
Finding the Right Arbitrator for You
Selecting an Arbitrator depends on several factors. The starting point is a discussion about your situation so we can recommend the most suitable person. You can use the form below to make contact.
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