What is the first step in the arbitration process?

The first step in the arbitration process is for one party to serve notice on the other. This initial notification is essential as it formally begins the arbitration proceedings, informing the other party of the dispute and the intent to resolve it through arbitration. The notice typically includes relevant details such as the nature of the dispute, the underlying facts, and the relief sought.

This step is critical because it establishes the framework for the arbitration, allowing both parties to understand the issues at hand and prepare accordingly. Following this notice, subsequent steps such as holding a preparatory conference, exchanging exhibits and statements of position, and conducting hearings can take place, all of which rely on the foundation laid by the initial notice.