Critically assess the advantages and disadvantages of commercial arbitration.

The Arbitration Act has three general principles.

The first is that the arbitration should obtain fair dispute resolution by an impartial tribunal without unnecessary delay or expense. This includes a mandatory requirement that the arbitration tribunal should act fairly, impartially and efficiently.

The second is that the parties should have autonomy with regard to procedure, subject only to public interest safeguards.

The final principle is that the court should not intervene in arbitrations except in special circumstances laid down by the Act….(short extract)