The use of arbitration as a method for the settlement of disputes has emerged as a major force in the construction industry. More likely than not, subcontractors will find incorporated into their agreement, an owner or general contractor imposed obligation which will require them to arbitrate any controversy or claim arising out of or relating to any portion of their agreement or the breach thereof.
Is is beyond the scope of this paper to delve into the advantages and disadvantages of arbitration of disputes in the construction industry. Proponents of arbitration point to speed in adjudication, smaller costs and expert consideration of the problem by those who are familiar with the practices and customs of the trade. Those opposed to arbitration contend an arbitration clause contains dangers similar to an iceberg.