The Academy of Experts (TAE) has unveiled a new set of rules for Expert Determination.
The new rules provide a clear and easy to follow framework that is suitable for adoption as the “agreed rules” in an original contract. The Academy rules are a focused set of independent procedures designed for use in almost any dispute, in virtually every part of the world. The main advantages of Expert Determination are that the decision process is confidential, it is also speedy, cost effective and final.
The Academy of Experts is one of the leading nominating bodies for Expert Determination.
Expert Determination is a form of Alternate Dispute Resolution (ADR) in which an expert is appointed to decide on an issue within their technical expertise. It is widely used in the determining of rents, the valuation of properties, the sale and purchase of companies and many other assessments of value, turnover or profit in areas such as shipping, insurance, IP disputes, sports and broadcasting.
What is Expert Determination?
Expert Determination is a dispute resolution process in which an independent expert in the subject matter of the dispute, is appointed by the parties to resolve the matter. The expert’s decision is - by prior agreement of the parties - legally binding on the parties. Like all ADR processes it is entirely confidential.
For a fuller explaination of Expert Determination [click here] |
The Academy of Experts