Arbitration is too costly and takes far too much time... This is
the increasingly uniform view from the users of the popular
alternative forum for resolving disputes.
There is nothing particularly novel in this statement; the 2015
Queen Mary University of London International Arbitration Survey:
Improvements and Innovations in International Arbitration found
that, of the hundreds of respondents, "Cost" was seen as
the worst feature of arbitration, followed closely by "lack of
effective sanctions during the arbitral process", "lack
of insight into arbitrators' efficiency" and, importantly,
"lack of speed".
These issues can be particularly acute in situations where
either the amount in dispute is relatively small and/or the issues
to be determined are relatively straightforward (for example, a
claim for an unpaid debt for which the debtor has no defence).
Calls for more streamlined procedures have not gone unnoticed by
arbitral institutions. The American Arbitration
