An arbitrator is someone who represents a third party. His duty is to solve the disputed issues within wrangling parties. An arbitrator also tries to find or to come up with solutions that help in solving the issues. Only a legal professional can become an arbitrator. An arbitrator interrogates the parties involved and observes them in order to acquire the facts that may help in providing a resolution. An arbitrator helps the parties to reach a consensus or mutual agreement (Gibson, 2001).
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An arbitrator is responsible for hearing the cases and delivering a verdict that is based on the evidence presented, the testimony of the witnesses and the law. He or she has to follow the law at all times. He or she should also reach an agreement that is appropriate for both parties. Arbitration cases can be held in whichever setting and at the most suitable time for both parties. Arbitration cases are private and they are not classified like court cases. Moreover, they are also less expensive (Goodman, 2004).
An arbitrator should consider various ethics while executing his or her duties. He or she should practice free verdicts and offer a reliable advice. An arbitrator should consider all factors when giving an advice. He or she should remain neutral and should not favor any party. An arbitrator should also divulge any chauvinisms or affiliations with the parties involved that may hinder the final decision. He or she should also maintain secrecy and treat all the parties equally (Goodman, 2004).
Past practice in arbitration means an itinerary of conduct that is an implicit and acknowledged way of doing things over a long period of time. It is hence jointly binding and enforceable. Past practice helps to clarify an indefinite contract stipulation and spell out a general contract gain. It helps to fill in a void that may be seen in the agreement and creates an exclusively new benefit that is not provided by a contract (Gibson, 2001).
An arbitrator should be fair at all times. He or she should not discriminate any party, be biased, favor any party, or take side of any party. An arbitrator should involve both parties in solving the issues and offer fair decisions (Goodman, 2004).
An arbitrator also has other responsibilities like giving oath. He or she should oath before the parties involved. Besides, an arbitrator should also direct any party’s interrogatories. He/she has a power to grant costs and interests and find a legal assistance. An arbitrator can also allow the alteration of a contract (Gibson, 2001).
In conclusion, an arbitrator offers the most suitable way of solving different issues. He/she provides a second option apart from the courts. Ethical considerations in arbitration render it as a successful platform for handling different cases or issues (Goodman, 2004).