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Binding arbitration is a type of out-of-court dispute settlement wherein the arbitrator’s decision is legally binding.
The new code of practice will require supermarkets to enter into binding arbitration to resolve any disputes with suppliers.
Arbitration is a form of alternative dispute resolution (ADR), that is to say an alternative to court litigation, overseen by a neutral arbiter or arbitral tribunal. It may be mandatory (i.e., stipulated by contract) or undertaken by the parties voluntarily. Not all arbitrations are legally binding, however: in a non-binding arbitration, no enforceable arbitration award is issued, but rather an advisory opinion regarding the dispute. The award in a binding arbitration, on the other hand, is more akin to an out-of-court equivalent of a court decision and is in fact enforceable in a court of law. Parties in a non-binding arbitration, however, may still resort to legal action.
Závazná arbitráž je druh mimosoudního řešení sporu, v jehož rámci je rozhodnutí arbitra právně závazné.
Nový etický kodex bude požadovat, aby se supermarkety podrobily závazné arbitráži pro vyřešení jakýchkoli sporů s dodavateli.
Arbitráž je způsob mimosoudního řešení sporů, tj. alternativa k soudnímu procesu, na kterou dohlíží neutrální arbitr nebo arbitrážní tribunál. Může být povinná (tj. ujednaná ve smlouvě), nebo se jí strany sporu mohou účastnit dobrovolně. Ne všechny arbitráže jsou však právně závazné: v nezávazné arbitráži se nevydává závazné rozhodnutí, ale jen poradní názor ve sporné věci. Rozhodnutí v závazné arbitráži je naopak podobné mimosoudním ekvivalentům soudních rozhodnutí a je dokonce soudně vymahatelné. Strany nezávazné arbitráže se naopak mohou rozhodnout ještě pro soudní proces.
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English Editorial Services’ mission is to assist international businesses and organizations of all sizes to communicate clearly, correctly, and persuasively with their business partners and target audiences.
Simply subscribe to receive our Business Term of the Day at no charge to your inbox each business day, with explanation in English and Czech.
