Final answer:
Arbitrators must have expertise in the relevant field, be recognized by peers, offer an accessible and impartial dispute resolution process, and be free from bias. Additional legal qualifications may be required for specific cases, and disqualifying conditions must not exist for one to serve as an arbitrator.
Step-by-step explanation:
To be eligible for arbitration, potential arbitrators typically need to possess certain qualifications. The qualifications may vary depending on the nature of the dispute and the rules of the arbitration institution overseeing the process. However, some common qualifications for arbitrators include:
- Expertise in the relevant field related to the dispute.
- Recognition or certification as an expert by their professional peers.
- Ability to assess whether there is a consensus among experts on the subject matter of the dispute.
- Impartiality and lack of bias towards either party involved in the arbitration.
Arbitrators must also be capable of facilitating an accessible and impartial dispute resolution process. This includes being competent, ethical, and independent in their decision-making, and ensuring that their judgment aligns with legal precedent and the consensus of experts in the field.
Additionally, in some cases, statutory provisions may require specific qualifications such as legal training or licensure.
Moreover, when it comes to legal disputes that might escalate to court, such as zoning appeals or interstate matters, it is crucial that arbitrators understand the legal framework and guidelines that govern their jurisdiction.
If a person seeking to be an arbitrator meets all the necessary qualifications but falls under certain disqualifying conditions, such as holding a conflicting position or having a vested interest in the outcome, they would be ineligible to serve in that capacity.