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Arbitration is a procedure that is applied for the resolution of civil and commercial disputes, as an alternative form to ordinary justice. The people involved can decide to make sure that the dispute is resolved by one or more arbitrators, as long as they are in an odd number, which issue the so-called award.
You can choose to entrust the resolution of the dispute to the arbitrators already when the contract is drawn up, introducing a particular compromise note or, after a dispute has arisen, by signing with a particular agreement, an arbitration mode.
Not all disputes can be entrusted to arbitration. Specification of arbitration. It can be of a ritual nature: in the circumstance in which, taking into account the code of civil procedure, determines a choice, the so-called ritual award that has validity of judgment and verdict.
It can also be of an irrational character: in the circumstance in which it determines a judgment, the so-called irrode, which has a negotiating nature, ie contractual value. The benefits deriving from arbitration with respect to ordinary judicial activity.
The primary benefit involves the fact of arriving at a definitive judgment in a very short time. If the contrary is not provided by the persons involved, the award must be issued within 240 days from when the nomination has been granted by the Arbitrator.
The Arbitration, contrary to what is claimed, has no higher costs than the ordinary trial, since the only extra amount that people have to pay is the remuneration of the arbitrator. The judge, if the persons in question request it, considers it and determines it executive.
This means that if you are in a situation of default by the subordinate person, you can initiate procedures of an executive nature.
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The arbitrator, moreover, since he has the power to decide on the amounts to be paid, can force the person subordinate to the reimbursement in favor of the winning person of both the legal and the arbitration costs.
At a theoretical level, therefore, even under the circumstance of an arbitration, a judicial action can be carried out without any expense.