How Arbitration and Mediation can Settle a Dispute Outside of the Courtroom
If you’re looking to resolve a dispute out of court, arbitration and mediation will be the way to go. There are circumstances where a lawyer could recommend arbitration as the best possible way to solve a dispute. There is no organization that goes into an agreement with the intention of developing a dispute. There could still be disputes even if you have the best intentions.
There will be a third-party, also known as the arbitrator that will resolve the dispute after hearing both sides of the parties involved. In most instances, the parties will have to make an oral argument in addition to the documents presented. An attorney will still be involved in arbitration to make the oral argument on behalf of their client. There are a couple of reasons why you’d want to use arbitration to resolve disputes and they include:
Unlike judicial proceedings, the arbitration is held behind closed doors unless it is a matter of public interest. This can be helpful if there are sensitive matters that shouldn’t be discussed in public.
Parties Agree on Arbitrator
The parties involved in the dispute will each have a say on the arbitrator that will be handling the case. This is because an arbitrator should be impartial and fair in their judgment. The selection process is based on the expertise and experience of the arbitrator. You can see more info at Cohen Garelick & Glazier website. Since the arbitrator will be well informed and experienced in the area of law, there will be no need of getting them up to speed with the relevant information. The parties involved can decide on a particular institution that will be charged with the responsibility of choosing the mediator.
Faster and Less Expensive
There are no court fees to worry about as you’ll be working directly with the arbitrator. It is also a faster process because you’ll be able to complete everything easily once the parties have come to an agreement. The same matter could take a while if you decide to go to court.
There is a high likelihood of constant disagreements when the case goes to court. Even when the matter has been settled, it could take forever for the hostility to go away. With mediation, there is a relaxed and friendly environment which makes it easy for the parties to agree. A mutual agreement can only be reached when the parties involved are cooperating with the process.
The arbitrator’s work is to ensure that there is a sensible approach to resolving the dispute. A face to face meeting could be necessary so that those issues are being ironed out. There could be negotiations and that is why it is important to have an attorney involved.
Finality of Award
The decision on the award is final when working with the arbitrator. There are some people that will feel disgruntled because of the fact there is no appeal with an arbitration case.