Arbitration is commonly known as Alternative Dispute Resolution (ADR). It's a process where both sides come together and agree to follow and respect the decision of the arbitrator. The arbitrator is usually an attorney familiar with the field of law being decided. The decision of the arbitrator is legally binding against both parties.
There are several reasons why choosing to work with arbitration lawyers is a better course of action than filing a lawsuit. These include:
There are various considerations a person must consider when deciding between arbitration and court. These include:
It depends on the agreement of the parties. In most cases, an arbitration decision is final and binds both parties by its decision. In very limited cases, however, you can appeal an arbitration award in court. Courts may or may not review an arbitration award. When a court reviews a decision made by an arbitrator, the court will either enforce the arbitration award or vacate the award. Courts may review a private arbitration based on two governing sources:
In any case, these grounds are narrow grounds. Many cases fail to meet statutory requirements. As a result, courts rarely review the arbitration award, and even if so, rarely overturn arbitration awards. In addition, courts are often reluctant to overturn arbitrator awards because doing so can reduce the usefulness of arbitration as an alternative dispute resolution (ADR) mechanism.
The decision whether to enter into arbitration or litigation is an important one. There are many factors to consider and an attorney can advise you on your decision. A business attorney can consider your case and help you determine whether arbitration is right for you. Furthermore, an attorney can help you decide what arbitrator would be the best fit in your situation.
Last Modified: 02-28-2018 04:15 AM PSTLaw Library Disclaimer
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