Other advantages of expert determination include:
- Privacy: The dispute is resolved between the parties without anyone else even being aware of its existence.
- Speed: The dispute could be resolved in as little as 30 days (with one such appointment, all concerned were ready to move quickly and Chris’s decision was reached in FIVE days).
- Cost-effective: Expert determinations are a much more cost-effective way of resolving a dispute than going to court or an arbitral process.
- Choice: The parties can choose an expert who understands the problems, thus often avoiding the need to appoint separate experts.
- Final & Binding: The dispute will be resolved with virtually no opportunity to appeal. The appointed expert’s determination forms a binding contract, and the courts are very reluctant to interfere with the expert’s decision. Fraud and manifest error are the exceptions.
- Impartial: The expert is required to act fairly and to give each party the opportunity to make representations to the expert, and to respond to representations made by the other side.
- Relationships: After a long and hard-fought court case the parties are unlikely to want to do business together, ever again. Expert determination is a technical process that is far less likely to destroy business relationships.
- Investigative: Unless restricted by the parties in advance, the expert can conduct their investigations into the issue without restrictions to ask questions as needed.
- Technical: Expert determination is suited to disputes of a technical nature. the expert has the knowledge to deal with the issue, saving time and money.