Most industry standard forms of agreement that address arbitration seem to be limited to providing the most basic submission agreement. Pre-dispute attention to the arbitration provisions of contracts can help avoid post-dispute arbitration shortcomings. The use of arbitration as an alternative to litigation has grown and expanded in many industries, including construction. Below are some recent developments in arbitration and several practical issues to be addressed regarding the drafting of arbitration provisions.
Developments in Arbitration
There have been two relatively recent areas of development in arbitration practice of particular note: (1) the ascension of the Federal Arbitration Act’s pre-emption of inconsistent state policies or procedures; and (2) the availability (or extent) of judicial review of awards for errors of law.
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