Arbitration is a non-judicial proceeding used as an alternative form of dispute resolution. It takes place in the presence of a neutral decision-maker, the Arbitrator, who listens to each side’s case and makes a binding decision or award.
The arbitration process is set forth in an arbitration agreement designed by the parties, and includes provisions for timelines, discovery, hearings, and the award. The Arbitrator’s Award, once confirmed by the District Court, is enforceable as a judgment.
The benefits of Arbitration include:
- The parties may select an Arbitrator with specific expertise regarding their issue(s)
- Arbitration often provides a quicker resolution of your case than courts can provide
- Arbitrators can render provisional measures
- Arbitration limits appeal options
- All proceedings and outcomes are confidential
- The cost is dependent upon factors controlled by the parties and the complexity of the case
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