If you are contemplating a lawsuit, you may be interested to know that there are other options available. In addition to mediation, which typically takes place after a lawsuit is filed, you may also be interested in participating in arbitration.
Arbitration takes your dispute before one or more impartial persons (whom are nonparties) for a final and binding decision (resolution). When the decision is a binding one, this means that the parties do not have further appeal or recourse.
The Goal of Arbitration
As a private and confidential proceeding, the goal of arbitration is to produce quick, practical, and economical settlements. During arbitration, the parties state their views of the dispute, offer evidence at an arbitration hearing, and agree to let an impartial, professionally trained arbitrator make a decision that will end the dispute.
Here are some FAQs (and their answers) regarding arbitration, follow the links for in depth answers:
Q: Why Use Arbitration Instead Of Going To Court ("litigation")?
A: The American Bar Association estimates that as many as 100 million Americans are shut out of the legal system due to the high cost of justice. In a 1999 survey, the … More
Q: How Do You Apply For Arbitration?
A: Typically, to begin an arbitration, one party completes an arbitration claim form, files it with the arbitration administrator and pays and a filing fee, if any. The … More
Q: How Does The Arbitration Process Generally Work?
A: The arbitrator initiates the hearing by swearing in the parties and witnesses who will testify. The parties then give opening arguments and present both documentary … More
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