What is an arbitration award in civil law?
An arbitration award in civil law is a legally binding decision made by an independent arbitrator on any given civil dispute. This decision is a way of settling disputes that parties cannot solve themselves. It is an alternative to resolving disputes through the court system. In Georgia, arbitration is regulated by the state legislature. It is based on an agreement between the parties involved in the dispute where the disputes will be resolved out of court. This agreement is usually written and filed with the court or with the arbitrator. The arbitrator is an impartial non-judicial third party who addresses the dispute between the parties. They will listen to both sides of the conflict, review evidence, and decide who should prevail in the dispute. Any decision made by the arbitrator is then referred to as an arbitration award. An arbitration award is binding on both parties. The parties are expected to abide by the decision of the arbitrator, and if they do not, the award becomes enforceable in court. The parties usually have very limited rights to appeal the decision, and the appeal is very costly. By settling disputes through arbitration, parties are able to avoid longer legal proceedings and the hefty costs associated with them. An arbitration award is a legally binding decision that both parties are expected to comply with, and a cost-effective alternative to resolving civil disputes in Georgia courts.
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