with multiple levels of appeal. The practical benefit of this is that parties can have their dispute determined as quickly as possible (and therefore as cost effectively as possible) in a manner that is final and binding. An award can also be enforced quickly and easily in the High Court by entry as a judgment in terms of the award, or by action, subject only to the provisions of articles 35 and 36 of the First Schedule to the Arbitration Act 1996. This might be compared with a settlement agreement or even an expert’s determination (where the parties to the expert determination have agreed that the determination is to be binding), as both of these processes result in an outcome that may only be enforced as a matter of contract with all the attendant problems that brings. The ease of enforcement of an arbitral award is vastly superior to the alternative options that apply to purely contractual processes. Whilst it is always hoped that parties to a voluntary private dispute resolution process will abide the outcome of that process, it is certainly not guaranteed and, for that reason, the enforceability of an arbitral award will always be a major benefit of arbitration which should carefully be considered when looking at dispute resolution options. Concluding remarks There are of course many other benefits to be gained by using arbitration as a dispute resolution process, the most often cited being that it is private and confidential. In commercial landlord and tenant disputes however, our experience shows that parties consistently put the highest premium on the time and costs efficiencies and certainty provided by our expedited processes as well as the finality and enforceability of arbitral awards. Arbitration, particularly under the NZDRC Arbitration Rules, provides a solution that is credible, proportionate and effective, and it is no surprise that arbitration’s popularity has steadily increased over time with both disputing parties and their legal counsel. For more information about NZDRC’s fully administered arbitration services go to www.nzdrc.co.nz or email [email protected]. about the author
Catherine has her own private practice as an arbitrator, adjudicator, and mediator taking appointments with respect to both commercial and construction disputes. She is also the Executive Director of the New Zealand International Arbitration Centre (NZIAC) as well as its related domestic registry services which cover a full spectrum of commercial, building and construction, and family and relationship disputes. Catherine Green Adjudication - Arbitration - Arb-Med - Mediation - Expert Determination For more information or to request the appointment of Catherine Green, please contact the registrar at [email protected]