What Does Arbitration Mean?

Arbitration is a form of alternative dispute resolution (ADR) in which parties agree to submit their dispute to a neutral third party, known as an arbitrator, for a binding decision. Arbitration is often used to resolve disputes in a wide range of areas, including commercial contracts, employment disputes, and personal injury cases.

How Arbitration Works

• The parties to a dispute agree to submit their case to arbitration.
• The parties select an arbitrator, who is typically a lawyer or retired judge.
• The arbitrator holds a hearing at which both parties present their evidence and arguments.
• The arbitrator makes a decision, which is binding on both parties.

Advantages of Arbitration

• Arbitration is often faster and less expensive than litigation.
• Arbitration is private, so the proceedings are not open to the public.
• Arbitration is final, meaning that the arbitrator’s decision cannot be appealed.

Disadvantages of Arbitration

• Arbitration can be less fair than litigation because the arbitrator is not bound by the same rules of evidence and procedure as a judge.
• Arbitration can be less transparent than litigation because the proceedings are not open to the public.
• Arbitration can be less accountable than litigation because the arbitrator is not subject to the same level of scrutiny as a judge.

Whether Arbitration Is Right for You

Whether arbitration is right for you depends on the specific circumstances of your dispute. If you are considering arbitration, you should carefully weigh the advantages and disadvantages before making a decision.

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