Arbitration of Disputes
Arbitration as a Form of Alternative Dispute Resolution
Arbitration is a form of alternative dispute resolution (ADR). ADR is a process by which people try to resolve their disputes without going to court. Usually, the parties will agree beforehand that any legal dispute between them will be resolved in arbitration.
Arbitration of disputes is a process by which a neutral third party, agreed upon by the parties to the dispute, will hear evidence and arguments, and decide the appropriate remedy. Generally, they are not required to follow all of the procedural rules associated with litigation, which is meant to streamline the process.
Arbitration has many proponents who say that it should be used more widely, as an alternative to litigation. They argue that it would relieve strain on the judicial system, and that is cheaper, faster, and simpler than litigation.
Furthermore, since most arbitration is handled by private organizations, they have flexibility in appointing an appropriate arbitrator to each case. If a case involves highly technical issues, an arbitrator with the appropriate expertise can be appointed.
The costs of arbitration vary widely based on the nature and complexity of a case, but tend to be cheaper than litigation. Some studies have also shown that arbitration usually takes significantly less time than a comparable case would in court.
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Last Modified: 10-14-2010 02:25 PM PDT
