What is an arbitration proposal?

The arbitrator submits a proposal for settling the dispute to the parties concerned, if an agreement between the parties cannot be reached.

The arbitration proposal is based on the facts described in the statements made by the parties concerned. It must be aligned with applicable legislation and be appropriate for resolving the dispute between the parties in a reasonable manner.

The arbitration proposal is provided with a justification in order to allow the parties concerned to make a substantiated decision on whether to accept it or not. If both parties agree to accept the arbitration proposal, they shall be mutually and contractually obliged to abide by the proposal.