Ronald Verdaas

Financing & Securities and Insolvency law

Binding advice

Binding advice is a means to end or prevent a dispute at short notice and at a relatively low cost. The road to travel to a binding advice starts with an agreement between parties, in which they agree to submit to the decision of a binding advisor. They will jointly request from a binding advisor to give a binding advice in the execution of this binding advice agreement.

Ronald Verdaas is available as a binding advisor.

The engagement agreement for providing the binding advice shall at least include:

  • a description of the dispute
  • the decision standard (for instance: substantive law)
  • the method of fact finding, evidence standard and allocation of the burden of proof
  • agreement about the adversarial principle
  • the extent in which the decision is motivated
  • the terms which apply to the parties and to the binding advisor
  • the costs of the binding advice and who will pay these costs
  • agreement about secrecy or publication of the decision

Arbitration

Arbitration is a way to resolve disputes outside the courts. Arbitration allows parties to choose their own tribunal. Arbitrors with an appropiate degree of expertise can be chosen. Arbitration is often faster than litigation in court. Arbitral proceedings and an arbitral award are generally non-public.

Ronald Verdaas is available is an arbitrator.