Contingency - When estimating the cost for a project, product or other item or investment, there is always uncertainty as to the precise content of all items in the estimate, how work will be performed, what work conditions will be like when the project is executed and so on.
An arbitrator is one who delivers a fair judgment to resolve a dispute. The arbitrator's decision may or may not be favorable to one or more parties involved; however, the arbitrator is a neutral third party chosen by the disputing parties in lieu of litigating in court.
A growing feeling that arbitration might have a place in English family law (as it does in some other common law jurisdictions) led to the formation of The Institute of Family Law Arbitrators Limited, the IFLA: the CIArb, the FLBA, Resolution and the Centre for Child and Family Law Reform have all been involved.hey agree in the form ARB 1 that the arbitrator's decision will be final and binding and that if necessary they will apply for a court order to give effect to it. 8. After the form is submitted:-. 1  The appointment is offered to the arbitrator. 2  The arbitrator seeks the parties' agreement to his or her terms.