Arbitration is a key aspect of the work we do. Following the recent CJC report on mandatory or compulsory ADR we have already seen an increase in interest in arbitration for disputes under £50,000, and have today launched the Hunt ADR Low-Cost Arbitration Service.
Introduction
The Hunt ADR Low-Cost Arbitration Service (LCAS) has been developed by Hunt ADR to provide the simple, cost-effective, timely, final and legally binding resolution of disputes between parties where the amount in dispute is less than £50,000. Hunt ADR may allow applications for more than that amount under LCAS at its own discretion.
Key Features of LCAS include:
● Private and confidential resolution of disputes between parties
● Suitable for disputes with a value of up to £50,000
● Fixed fee is payable by the parties on submission of the Arbitration Notice, covering Hunt ADR’s administrative costs and the arbitrator’s fees
● Uses experienced sole arbitrators from a wide range of professional backgrounds who have specialised in documents only arbitration processes
● Statement(s) of claim, statements(s) of defence, reply to the defence and any other document submitted (including witness statements) shall not exceed 5,000 words per submission
● Neither party may recover any costs towards their costs of the arbitration
● Arbitrator will issue an Award in no more than 28 days of receipt of all relevant information from the parties
Key Benefits of LCAS:
● Ideal for pre action dispute resolution or court directed ADR
● Fees capped at just £450 plus VAT (typically £225 plus VAT per party) with no recoverable costs - dissuading parties from incurring high legal costs
● Final and legally binding Award issued without unnecessary delays
● Award has the same effect as a court judgment
● Formal procedural steps are kept to a minimum so parties are able to present their own case without legal representation
● Confidential environment protects intellectual property, removes risk of litigation and reduces risk of reputational damage
For more information including how to apply, email us or see the Hunt ADR Low-Cost Arbitration Service.