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Arbitration
Read tips from Laura on maximizing your arbitration success here
Arbitration
Arbitration is a binding adjudicatory process to resolve legal disputes out of court. The parties must choose, in writing, to have their claims heard by an arbitrator or panel of arbitrators. The parties choose the set of rules that will apply to the arbitration. Court rules of evidence do not apply strictly. After allowing limited discovery and conducting a hearing, the arbitrator issues an award which the parties can enforce in court. Most arbitrations are final and binding; however the parties can opt for a non-binding, or advisory, award.
Arbitration Benefits
- is often quicker and more efficient than going through court
- takes place in a conference room instead of a courtroom
- can be conducted live, using ODR (online dispute resolution), or through a hybrid process
- allows the parties less formality in how they present their case
- allows the arbitrator to use the court rules of evidence as guidance and rely on her own experience and wisdom in evaluating evidence
- can be confidential
- involves less discovery and motion practice than in court
- encourages the parties to bring all claims to a live hearing
- leads to a final award that is enforceable in court just as if a judge had ruled or a jury had entered a verdict
- requires the parties to pay the arbitrator which amount is often offset by a savings on attorneys fees due to limited discovery and motion practice
