What is the definition of “party autonomy” in arbitration?

Party autonomy is a legal concept used in arbitration law in North Carolina. It refers to the freedom of parties to the arbitration to agree to conditions of their arbitration. This provides the parties with more flexibility to craft an arbitration agreement that works for their specific situation. Party autonomy allows the parties to decide on a number of essential elements associated with their arbitration – such as who will arbitrate the dispute, what sort of procedures will be applied in the arbitration, and how the award will be enforced and the parties compelled to comply. This ability to customize the arbitration procedures gives the parties more control over the process, allowing them to resolve the dispute in a manner most suited to them. Moreover, the arbitration agreement can also incorporate certain other elements specific to the parties’ circumstances – such as the choice of law that will be applied in the arbitration and the taxation and other costs associated with the proceedings. This further increases the control the parties have over their arbitration proceedings and helps the parties to ensure that the dispute is resolved in a manner that is most beneficial to their particular situation.

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What is the definition of “party autonomy” in arbitration?

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