There are certain policy reasons both for and against the |
adoption of a provision in the RUAA for expanded judicial |
review of an arbitrator's decision for errors of law or fact. |
The value-added dimensions considered by the Drafting |
Committee were three. First, there is an "informational" |
element in that such a provision would clearly inform the |
parties that they can "opt in" to enhanced judicial review. |
Second, an opt-in provision, if properly framed, can serve a |
"channeling" function by setting out standards for the types |
and extent of judicial review permitted. Such standards would |
ensure substantial uniformity in these "opt in" provisions and |
facilitate the development of a consistent body of case law |
pertaining to those contract provisions. Finally, it can be |
argued that provision of the "opt in" safety net will |
encourage parties whose fear of the "wrongly decided" award |
previously prevented them from trying arbitration to do so. |