Arbitration is a quasi-judicial process in which a trained, neutral arbitrator, hears evidence from both parties to a dispute and makes a decision, called an award, based on the evidence the parties provide, legal precedent and natural law. The arbitrator’s decision is binding on both parties.
Arbitration is a viable alternative to litigation:
- Flexible Process – allows the arbitration to be tailored to meet the unique needs of the parties.
- Rapid Resolution – no waiting for court dates and preliminary processes are kept to a minimum.
- Efficient – arbitration is often more efficient than litigation
- Private – proceedings take place in a private setting and results are not public property and cannot be published without the consent of the parties.
- Voluntary – the process requires mutual consent.
- Final – the decision is final, binding, and court appeals are rare.