IAMA said it was collaborating with the Master Builders Association, the Australian Institute of Quantity Surveyors and the Chartered Institute of Purchasing & Supply Australia in a bid to provide a cost-effective and faster approach to resolving disputes. IAMA said the building industry was prone to disputation due to the often complex nature of projects and the need to complete many building projects on time. It said construction may involve the owner, an architect, engineer, builder, various tradesmen under subcontract, and building material suppliers. While many building contracts include dispute resolution, IAMA’s Fast Track Arbitration Rules will offer industry a more cost-effective and faster approach to resolve disputes. IAMA was founded in Canberra in 1975 under the auspices of the Institution of Engineers, the Royal Institute of Australian Architects and the Master Builders Federation of Australia, to help resolve building disputes outside the court system, and now embraces all areas of alternative dispute resolution. Former NSW chief justice and IAMA honorary fellow Sir Laurence Street will host a seminar in Canberra today to demonstrate how the rules can be applied in a building and construction dispute. Invited guests include members of judiciary and industry.