What is Abitration?
Arbitration is a form of alternate dispute resolution, specifically, a legal alternative to litigation, where the parties to a dispute, agree to submit their respective positions to a neutral third party arbitrator(s) for resolution.
Who is an Arbitrator?
An arbitrator is a neutral third party selected by the parties or by the institution or appointed by the court. It is the arbitrator who will hear the matter and provide a reasoned judgement or award. This has the same validity as a court decree.
Why is Arbitration used instead of going to a court of law?
Arbitration is a private process with some degree of flexibility as to the procedure. It is also quicker when done properly, and can give you an outcome within 6-12 months, especially if you follow institutional rules – like ours. Do contact us to learn more.
In what types of cases can Arbitration be used?
Arbitration can be used in all types of cases except criminal matters.
What are the advantages of arbitration?
Arbitration is a speedier, fair, private, and reasonably flexible method of obtaining a judgement. It is also less expensive provided you use an institution where the arbitrators’ fees are fixed by the institution.
What are the disadvantages of our court system?
Our courts are overburdened, and adjournments are frequent. Cases take on average 5-6 years in court as opposed to one year in arbitration.