Arbitration
About Arbitration
Arbitration is a legal process in which a neutral third person, called an arbitrator, hears the parties’ case in an informal setting and renders a final and legally binding decision similar to a court judgment.
Parties involved in arbitration are effectively opting out of the court system and submitting their case for private resolution by a neutral, third party arbitrator.
Why
Choose
Arbitration?
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The focus is on the parties and their dispute
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The arbitrator is the ultimate decision maker and manager of the process
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Arbitration decisions are final and binding, unless the parties opt for a non-binding decision
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A non-binding decision can assist parties as they consider settlement options
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Arbitration can save time and money that would be spent going to court
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Arbitration is generally less formal than a court trial
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Arbitration is private and confidential (with some limited exceptions)
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Parties negotiate and control the selection of the arbitrator, the ground rules, and the timing for the process