Resolving Disputes: An Overview of Arbitration

Arbitration provides an alternative means of settling disputes that does not involve going to court. It involves a neutral third party, called an arbitrator, who listens to both sides of the disagreement and makes a decision that is binding on both parties.
The process of arbitration is similar to a court trial, with both sides presenting their case and evidence to the arbitrator. However, arbitration is usually faster and less formal than a court proceeding.
Arbitration is commonly used in business contracts, labor disputes, and other areas where a quick resolution is needed.

It can be less expensive than going to court, and it allows parties to choose an arbitrator with specific expertise in the subject matter of the dispute.
So, while arbitration can be a useful alternative to court, it’s essential to make sure you understand the process and the potential risks involved.

 

By Chartafai.