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What is the difference between individual arbitration and collegiate arbitration?

What is the difference between sole arbitration and collegiate arbitration?

  • Sole arbitration means that the parties agree to appoint a single arbitrator, an option that is usually faster, cheaper and easier but may also involve more risk of bias or error by the sole arbitrator.
  • Collegiate arbitration involves the parties agreeing to appoint three arbitrators. Each party names an arbitrator, and the two named arbitrators choose the third arbitrator, who acts as president of the tribunal. This option is usually slower, more expensive and more complex than one-person arbitration, but it can also offer more guarantees of impartiality and quality of the award, as it has the deliberation and consensus of three arbitrators.

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