Arbitration has been around since the beginning of civilisation. Speed, cost, confidentiality, flexibility, a more relaxed approach to the rules of court, and the availability of arbitrators who are experts in the matter in dispute are some of the attributes which make arbitration more appealing. This short article relates to the law on arbitration since it was first legislated for in 1698, to more recent times with passing of the Arbitration Acts, 1954, 1980 and 1998. It deals with the enforceability of arbitral awards both within the Ireland, the EU, and internationally, the power of arbitrators to award interest on awards made, and the pros and cons of arbitration in practice.
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