Litigation is not the only way to resolve conflicts. Private arbitration is another, and in some cases, superior dispute resolution forum. But if litigation is no tea party, neither is arbitration. Still, the creative lawyer can make arbitration a far better fate than, say, prolonged litigation, sickness, or death.
Many agreements involving real estate contain arbitration (or other dispute resolution) provisions. Solicitors engaged in the negotiation and drafting of real estate agreements should carefully consider whether arbitration provisions are to be included – and if so – the terms thereof. Arbitration – if well thought out – may be a preferred approach to secure the timely and efficient resolution of some or all of the potential disputes that may arise in many real estate transactions.
This paper is an introductory discussion of private arbitration in Ontario. We will:
- give an overview of the Arbitration Act, 1991;
- discuss factors to consider when deciding whether to enter into an
arbitration agreement; and
- discuss issues that arise in drafting such agreements.