This process involves settling the dispute (finance or children) without having to go to court.
The arbitration can be “on paper” or only cover a discrete issue that the parties are getting stuck on. It can also take the form of an “in-person” hearing. However, the arbitration award is just like a court order, ie it is binding.
The advantage with arbitration is that you get to choose the arbitrator, who is often a part-time judge or a senior lawyer with many years of experience. The choice of the arbitrator will be a joint decision that you make with your former partner.
It does cost to hire an arbitrator and the rates vary depending on seniority. However, the speed of the process means it is much more economical than court litigation, especially when ongoing solicitor costs are factored in. Another advantage is privacy and the ability to choose the venue for the arbitration which can also be done remotely.
