Arbitration can be an effective way to resolve legal disputes without dragging everyone involved through the court system. It is generally faster and less expensive than litigation, and it can provide a less complicated means by which to resolve a conflict.
Arbitration is a form of alternative dispute resolution, where an arbitrator sits as a private judge to decide a dispute. This replaces a trial in a court of law. Arbitration sessions are held in neutral locations and the disputing parties are present to address the issues at hand. A third-party arbitrator listens to both sides of the dispute, considers what each party is requesting, and makes a ruling soon after the hearing. Typically, this ruling is in favor of one party or the other, though it is possible for the arbitrator to provide a ruling that combines portions of each parties’ request.
Arbitration provides a number of advantages over litigation. It is flexible and arbitrators have the ability to render decisions that would sometimes not be an option in the courtroom. The arbitration process itself also gives the disputing parties a say in when and where the hearing will take place. They also have control over who is selected to arbitrate the proceedings. Arbitration can be binding or non-binding, which means parties may or may not have the option to pursue further legal action if they are unhappy with the ruling of the arbitrator.
Are you involved in a legal dispute? Do you believe arbitration might be the best way to save time and money resolving the argument? Hamlin Dispute Resolution, LLC can help. To discuss arbitration or to schedule a consultation, contact Andrea Lafon or Laura Fortner at 501.850.8888.