The Revised Florida Arbitration Code lays out what experienced arbitrators knew case law to be, but codifies all in one place with clear language. The statute spells out whether a dispute can be arbitrated, who decides certain issues, and other important matters that had been addressed over time through court decisions.
The old law, which dated to 1957, had been fleshed out over more than 50 years by case law. The new law, which took effect July 1, incorporates much of what courts decided with several important twists. An understanding of the new statute can help businesses, attorneys and arbitrators operate more efficiently for the benefit of all.
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