COST AND TIME SAVING TECHNIQUES USING THE SCOTT SCHEDULE: BEDROCK TO PREDICT RESOLUTION BASE IN ARBITRATION

Abstract

The expeditious and cost effective nature of arbitration has made it to be largely patronized to the extent that litigation will sooner or later fall into the shadows. In the bid of ensuring that arbitration proceedings are not subjected to the same problems as litigation, arbitrators makes use of certain sophisticated techniques in saving time and reducing cost in arbitration. This
article undertakes the Scott schedule as a viable tool in accelerating the arbitral process and saving cost at the same time. This article reveals that the Scott schedule was initially applicable to building disputes but has in recent times being applied to complex disputes in arbitration. It concludes that the basic objective of the Scott schedule is to present the issues contentious
between the disputants as clearly as possible and make it resolved without rancor.