Arbitration is a process by which the parties to a dispute appoint
a skilled neutral called an Arbitrator to review the evidence
and arguments of each party and make a decision which is binding
on the parties. Essentially the Arbitrator acts as a private judge.
- Fast: An arbitration hearing can be scheduled in a matter
of days, rather than the months or years it can take to get
- Cost: Compared to other dispute resolution processes, such
as litigation, arbitration can save each party many thousands
of dollars or in some cases, hundreds of thousands of dollars.
- Confidential: Unlike court cases, Arbitration is a confidential
process. The Arbitrator's award (decision) is not published
without the consent of the parties. Your personal business remains
private. Your credit is not affected.
- Voluntary: Arbitration can only take place by agreement of
the parties to the dispute.
- Completion: The dispute is resolved, ended, finished once
and for all. Unlike Court trials, which can be appealed, except in extremely rare cases,
there is no appeal of the Arbitrator's award.
- Fairness: Unlike the Court system an Arbitrator is not bound
by a complex system of rules and technicalities and can render
a decision based on what he feels is right and fair not just
the law. The parties can also select an Arbitrator who is knowledgeable
and experienced in the subject matter of the dispute the rather
than a judge who might just know the law.
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