Small Business Arbitration Scheme
Small businesses and sole traders have enough to contend with without the stress and expense of legal costs let alone the disruption and the time it takes to get to court. Maintaining business relationships by quickly and effectively reaching mutually satisfactory agreements makes commercial sense.
How it Works
The fast track small business arbitration service is ideally suited for busy firms and traders, offering the opportunity to submit low-cost disputes, documents and evidence to an arbitrator on-line or at a one-day hearing. In both instances, the arbitrator will provide a reasoned decision binding on both parties and capable of enforcement by the Court.
Fixed Price Dispute Resolution
Ideal for small claims up to £25,000 resolved within
£250 + VAT
Medium sized disputes with a value of up to
£750 + VAT
For larger value disputes and claims up to
£1250 + VAT
How to Start Small Business Arbitration
The small business arbitration scheme is a voluntary process and requires both parties to have previously agreed by way on an arbitration clause the substantive contract or by the completion of an application form signed by all parties and accompanied by payment of the relevant fees.
Chartered Institute of Arbitrators Rules
For relatively straightforward and smaller value cases, the parties may wish to consider using the CIArb Cost Controlled Arbitration Rules 2014. See CIArb Cost Controlled Arbitration Rules below.