RE:RE:RE:Hurry up before its too late, price will go up after this The arbitration process
Although every arbitration is different, there are general steps and procedures that are followed:
1. Starting the arbitration
Any party to an agreement can start an arbitration (usually called the claimant). The claimant will typically send a notice of arbitration (sometimes called a Notice to Request to Arbitrate, or Arbitration Application) to the other party involved in the dispute. Where and how notice is to be given is often covered under the notice terms of the agreement that is being arbitrated.
This notice should contain information such as:
- the name and address of both parties,
- a description of the dispute, and
- what result the person starting the arbitration hopes to obtain.
The person receiving the notice must respond within a certain time period, and must either confirm the accuracy of the information in the notice, or make corrections to it. If an arbitrator has already been agreed upon, the notice must also be sent to the arbitrator.