What is an arbitration award in civil law?

An arbitration award in civil law is a binding agreement that is reached between two parties in a dispute. This agreement is reached through the process of arbitration, which is a type of alternative dispute resolution. In this process, an arbitrator hears both sides and then makes a decision. The decision is the arbitration award, and it is legally binding on both parties. In New Hampshire, an arbitration award is usually used when the parties disagree on a certain issue and are unable to reach an agreement. The arbitrator listens to both sides and makes a ruling based on the facts presented. Once the award has been issued, both parties must adhere to it. The award is enforceable in the courts of New Hampshire, although parties can appeal if they feel that the award was not fair. The arbitration process is often used to resolve civil disputes in a timely manner, as it is often faster and cheaper than going to court. It is also beneficial as it can preserve relationships between the parties, as it is less adversarial than going to court. Additionally, the arbitration award is legally binding, so parties know that they must abide by the decision.

Related FAQs

What is a stay in civil law?
What is a counterclaim in civil law?
What are the key steps involved in civil litigation?
What is a demurrer in civil law?
What is a dispositive motion in civil law?
What is a dispute resolution process in civil law?
What is the burden of proof in civil law?
What is a motion to strike in civil law?
What is civil law?
What is an attachment in civil law?

What is an arbitration award in civil law?

Related FAQs

Related Blog Posts