Arbitration takes place outside of the court of law, unlike litigation which is done in the courtroom. Arbitration takes place under the supervision of an arbitrator and not a judge. Arbitration is generally less costly than litigation. The cost of arbitration depends on who is hired to do it. We will be discussing the 5 benefits of hiring an arbitrator in this article. Continue reading to learn more.
Arbitration has many advantages
Arbitration allows both the parties to decide the structure and procedure of the proceedings.
The process can be controlled
This allows the parties to agree on the structure of the proceeding. This can simplify the process and make it more tailored to the case.
Finality: The arbitrator’s decision is final. Even if one party wishes to contest the decision, they must respect the Arbitration Act’s limitations. The agreement states that the decision is final. This could lead to litigation lasting years before the court announces the verdict.
Privacy: This alternative also offers privacy. Arbitrations are private and open to all, but court proceedings are public. It is sensible for the parties to limit the number of people who can attend hearings if the matter involves trade secrets or proprietary technology.
Convenience: The court of law sets the trial dates based on both the convenience and the merits of the parties. Sometimes, there can be a long time between trials. For business owners with limited time, this can cause a lot of inconvenience.
Arbitration dates, on the other hand can be flexible. Both parties have the option of deciding when they are able to meet up and proceed with the case. They can also agree on trial dates.
Arbitration is a great way to save money. The matter can be settled outside of the court without having to pay a lot for expensive lawyers. The matter can be resolved without having to travel to court for many months or years. It is therefore a good idea to engage the services of an arbitrator lawyer.
An arbitration lawyer is a good option if you are looking to settle a dispute quickly without going to court. These advantages should convince you to choose an arbitrator over a professional advocate to represent your case in court.