The Role if the Courts: Judicial Review of Arbitral Awards and Mediated Settlement Agreements
Arbitration can be a risky business. The lack of judicial oversight combined with wide-sweeping arbitrator power to grant relief sometimes leaves parties feeling vulnerable to excessive or flatly wrong judgments. In “bet the farm” cases, parties, or one of them, might crave the safety of a second set of eyes reviewing their awards. Accordingly, parties occasionally incorporate provisions for expanded judicial review into their arbitral agreements.
Allen Blair, Is Less Really More? Hall Street Associates, Private Procedural Ordering and Expanded Review of Arbitral Awards in State Courts, 5 Y.B. Arb. & Mediation 74 (2013).