Arbitration and Awards I

At the end of this course, students should be able to: 1. explain the place of Arbitration in a 21st Century practice; 2. perform a mediatory role in the arrangement of real estate financing and in conflict resolution; and 3. explain the functions of an expert witness in court proceedings or tribunals involving any of the functions stated.

Nature of arbitration; its origin and application to valuation. Act reference to arbitration by consent. Types of arbitration. Statutory and conventional advantages of arbitration. Arbitration and umpires. Principal rules of arbitrators. Reference by order of court; neutral and tripartite panel. Procedure for arbitration award. Expert evidence and proof of evidence. Arbitration of real estate and related disputes in construction industry. Particular skills required of a professional. Costing by arbitrators in the construction industry. Real estate documents and arbitration clauses. Resolution of disputes by arbitration in the allied professions in the construction industry. Distinction between valuation, arbitration and action methods of enforcing, impeaching and award. Arbitration agreement, composition of arbitral tribunal, jurisdiction of arbitral tribunal, award and termination of proceedings, recourse against award, recognition and enforcement of awards; difference between arbitration and conciliation.