Panel of Arbitrators Law and Legal Definition
Panel of arbitrators means an extrajudicial body of arbitrators, constituted by the relevant authority from time to time, for resolving a dispute. In arbitration, the parties to a dispute agree to submit their cases before the arbitration panel and to abide by its decision by giving up their right to appeal. Generally, an arbitration panel will consist of three members and sometimes the number of arbitrators in the panel is increased to five. Panel of arbitrators is also called as arbitration panel.
According to Fla. Stat. § 766.207 (4) an arbitration panel shall be composed of three arbitrators, one selected by the claimant, one selected by the defendant, and one an administrative law judge furnished by the Division of Administrative Hearings who shall serve as the chief arbitrator. In the event of multiple plaintiffs or multiple defendants, the arbitrator selected by the side with multiple parties shall be the choice of those parties. If the multiple parties cannot reach agreement as to their arbitrator, each of the multiple parties shall submit a nominee, and the director of the Division of Administrative Hearings shall appoint the arbitrator from among such nominees.