In simple words, selecting the perfect arbitrator is one of the most challenging decisions that any party will take. Because the arbitration process can be long and archaic, it is crucial to choose the right people for this work. If you don’t know, the parties are permitted to propose people who will act as sole arbitrators who will help in appointing the chairman.
Bear in mind, there is little recourse against the arbitral award, so it is essential to choose a person who develops a good understanding of the issues. Not to forget, the arbitration will result well only if the arbitrator offers good quality services. Unfortunately, most academic institutions will not provide the correct details and qualifications to become a suitable arbitrator. Therefore, if you have been looking for a good arbitrator, you’ve come to the right spot. here we will guide you through a few essential factors to consider when choosing the perfect arbitrator:
1. Choose an Arbitrator Who Can Manage Your Case
When looking for the perfect arbitrator, it is best to choose an arbitrator with a manageable caseload. Before you cement your decision to work with any particular arbitrator, it is in your best interest to select a candidate who has the time and strength to manage your case. Bear in mind, if you’re in a case that requires special attention, you will have to choose an individual who can dive full throttle in your case and help you in the best possible way. Bear in mind, selecting an arbitrator with a heavy workload will only cause more damage to your situation. This, however, is a changeable rule because some arbitrators can make time for each of their clients through busy schedules. Secondly, it is best to choose an arbitrator who specializes in the case so that you can rest assured about everything working in the right direction.
2. The Nationality is Important
Not to forget, when arbitration occurs, people from different nationalities are involved. We are discussing ethnicity here because it is best to choose one who doesn’t share the nationality of either one of the two parties involved. This is done to remove any bias or hatred towards the other parties. Although most arbitrators are honest working professionals, still the industry has its fair share of rotten apples. In a 3 month tribunal, the arbitrators appointed by the party can be of the same nationality, but it is best to choose an individual who has diversified origins. This is also done to avoid any sense of scepticism in the minds of the different parties.
3. Consider the Professional Expertise
When you become a part of the selection process, you can consider finding the person with the right skill set and professional expertise. For example, in a few cases, you might need to hire a strong engineering background or experience in the gas industry. In mind, arbitration is a diverse industry, and every party expects the arbitrator to do their best. If you hire the wrong person for the right job, they will only cause more damage to your situation. In most disputes, it is best to go niche-specific to ensure that the results are favourable.
4. Choose an Individual With Strong Management Skills
No wonder the absence of staunch rules to find the perfect arbitrator can pose significant risks for both parties. However, if you’re lucky enough to find an arbitrator with strong management skills, it will become easier for the case to get solved on time. If not managed properly, your case will only gravitate towards destruction. To ensure that everything goes well, it is essential to choose an arbitrator with strong management skills. In other words, the person must have the right skill set to calm down the situation and put everything in its place the right way. For this to happen, you must schedule a one-to-one interview with the arbitrator. This will help you understand their thought process and knowledge of the craft. No wonder the right arbitrator has the strength to settle some of the world’s biggest disputes easily.