Financial Arbitration
A private, flexible and efficient alternative to court proceedings for resolving financial disputes.
Overview
What is family financial arbitration?
It allows couples to appoint an independent arbitrator to determine financial issues arising from their separation. The arbitrator considers the evidence and submissions provided on behalf of the parties and makes a binding decision in the form of a written document called an Award. There are only limited rights of appeal or challenge to that decision.
Advantages
What are the benefits of arbitration?
There are many advantages of arbitration compared with the court system. These include:
Speed
Arbitrations can move at a pace set by the parties and help avoid unnecessary delay and uncertainty that can arise in the court system.
Flexibility
The arbitration can be shaped around the particular issues that need to be resolved, with flexibility over timetable, procedure and the format of the hearing. The parties decide the scope — all financial issues or a set of narrower agreed issues — and the hearing can take place in person, remotely by video or, in appropriate cases, be determined on paper.
Choice of arbitrator
The parties can choose a specialist arbitrator with suitable expertise, who manages the case from appointment through to the final Award.
Confidentiality
The arbitration process and the Award are private and confidential.
Proportionality and cost-effectiveness
By narrowing the issues, managing financial documentation proportionately and focusing on what really requires determination, arbitration can often provide a more efficient and cost-effective route to a final outcome.
Convenience
The parties choose the date, time and location of the hearing that suits them.
Getting started
Preliminary scoping meeting
Before an appointment as arbitrator is finalised, a preliminary scoping meeting is arranged with the parties’ solicitors. This provides an opportunity to discuss the nature of the issues to be determined, the anticipated procedure and any practical matters relevant to the smooth running of the arbitration. No charge is made for this meeting, which is usually conducted remotely.
Formal appointment
Starting the arbitration
Financial arbitrations take place under a scheme established by the Institute of Family Law Arbitrators (‘IFLA’) and are governed by the Arbitration Act 1996 and IFLA’s rules. The current IFLA rules and a helpful guide to arbitration can be found on IFLA’s website.
If, following the preliminary scoping meeting, the parties decide to proceed with arbitration, they complete and sign Form ARB1FS. This is the formal application for financial arbitration. It records the parties’ agreement to arbitrate, their agreement to be bound by the arbitrator’s decision, and the financial issues they wish to have determined. A copy of Form ARB1FS is available here and is reproduced with the kind permission of IFLA.
Once the completed and signed form has been received, my Terms of Appointment are issued for agreement by the parties and then confirm the timetable leading to the hearing. The arbitration formally commences once I have accepted the appointment.
Impartiality
My role as arbitrator
My approach is to ensure that the arbitration is conducted fairly, proportionately and efficiently, with each party having the opportunity to present their case fully.
I do not act for either party and do not represent any individual involved in the arbitration. The parties remain responsible for obtaining their own independent legal advice.
A player on a truly national level
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Considering family financial arbitration?
I am happy to deal with any arbitration enquiries, without obligation.