Despite the drama unfolding on television, many legal disputes can be resolved quickly and amicably without going to court. Mediation is one of the more recognized types of alternative dispute resolutions. Still, it is far from the only option available, depending on the type of dispute you find yourself in. A perfect example is arbitration.
In today’s blog post, we’ll define what arbitration is, the types of cases generally heard through this method, and its pros and cons.
What Is Arbitration?
Arbitration is a method of resolving disputes where both parties agree to have their case heard by an arbitrator outside of court. The arbitrator’s job as a neutral third party is to listen to both sides (or their respective attorneys) individually as they argue their case and present documentation, witnesses, etc., they feel backs up their claims. The arbitrator then reviews all the evidence and facts of the case and decides what should happen next.
Arbitration differs from mediation in that the neutral third party has the authority to make a decision, and arbitration can be both binding and nonbinding. When arbitration is binding, the decision is final, can be enforced by a court, and can only be appealed on very narrow grounds.
When arbitration is non-binding, the arbitrator’s award is advisory and can be final only if accepted by the parties.
What Are the Pros and Cons of Arbitration?
Pros:
- Faster dispute resolution
- Less expensive than litigation
- Privacy
- Simplified procedures
Cons:
- Limited discovery process
- Inconsistent outcomes
- Very difficult to appeal arbitration rulings
- Arbitrator bias
Many civil and commercial disputes can be adjudicated by arbitration, but it’s important to meet with one of our attorneys first to ensure arbitration is the best option for your unique circumstances. Our team at Christman | Daniell Attorneys, understands the significant expense, time, and stress generated by litigation. We also appreciate the power arbitration has to eliminate the agony of litigation. Trust us to help you find a middle ground and amicably resolve your case.
Please call Christman | Daniell Attorneys, for your legal needs today!
Please consult an attorney for advice about your situation. The material on this website and in this or any blog article we publish are for informational purposes only and do not constitute legal advice. The attorneys at Christman | Daniell Attorneys believe in tailoring legal advice and solutions to your circumstances.
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