Arbitration comes with its own vocabulary. Here are the terms you are most likely to encounter, explained simply.
Arbitration agreement: the clause or contract in which parties agree to refer disputes to arbitration. Arbitral tribunal: the sole arbitrator or panel deciding the dispute. Award: the tribunal's binding decision. Interim award: an award deciding some issues before the final award. Award on agreed terms: a settlement recorded as an award.
Seat: the legal home of the arbitration, which decides the supervising court. Venue: where hearings physically take place. Institutional arbitration: arbitration administered by an arbitral institution under its rules. Ad hoc arbitration: arbitration managed by the parties and tribunal without an institution.
Notice of arbitration: the document invoking arbitration. Statement of claim and statement of defence: the main pleadings. Counterclaim: a claim by the respondent against the claimant. Procedural order: a direction by the tribunal on how the arbitration will run.
Section 9: court interim relief. Section 11: court appointment of arbitrators. Section 16: the tribunal's power to rule on its own jurisdiction. Section 17: tribunal interim relief. Section 29A: time limit for making the award. Section 29B: fast-track procedure. Section 34: application to set aside an award. Section 36: enforcement of an award. Section 37: appeals.
Emergency arbitrator: an arbitrator appointed to grant urgent relief before the tribunal is formed. Med-Arb: mediation followed by arbitration if settlement fails.