Arbitration is one of the most powerful forms of dispute resolution. It allows parties to resolve their conflicts outside the judiciary courts with all parties’ agreement. Such disputes are settled with the input of more than one person who makes the binding decision on the dispute.
Many people consider the benefits of arbitration over litigation. While both methods of dispute resolution hold their place, there are many reasons why more individuals and parties are drawn to arbitration for a solution.
Here are some incontestable reasons why you may want to consider hiring a personal arbitrator.
Story Stages
1. Faster Results
If you have ever taken a dispute to court, you can understand that it can take two to five years for a dispute to be handled in court. Such long durations and several appearances in judiciary courts can leave you mentally and physically drained.
On the contrary, arbitration can be a lot faster with a Free Arbitration Clause. Most parties that file for arbitration get a hearing within the first year of filing or even earlier, depending on the nature of your dispute. It can be a great reason for parties who are eager to resolve conflicts to go with arbitration.
2. Flexible Scheduling
It is common for courts to be behind schedule due to an overburdened system that deals with hundreds of hearings every day. The courts are usually unable to arrange a hearing at the time you suggest. It can be very inconvenient for people who have a busy personal or professional lifestyle.
On the contrary, one of the top benefits of choosing arbitration is that they can arrange your hearings on the basis of your availability. Of course, courts may be unable to accommodate every person’s personal schedule. However, flexibility is one of the key reasons why parties with other commitments and priorities choose arbitration.
3. Added Discretion
Litigation processes are usually open to the public and become a part of the public record. It can be an uncomfortable experience for parties that appreciate discretion. The public can even access the filing related to your hearing and judgments.
Therefore, people and parties with such needs prefer arbitration over litigation. Arbitration makes it possible for you to ensure your confidentiality and discretion. Hence, you can avoid unwanted attention from anyone other than the people involved. This feature can be especially helpful for parties with other unresolved matters.
4. Cost Efficiency
One may think that arbitration may cost more than litigation because of its efficiency, discretion, and so many other benefits. The costs of hearings in the public court system can become too costly to handle. However, you may be surprised to know that arbitration can cost a lot less than litigation as it focuses on sorting things out quicker.
Many parties can save time and money by foregoing basic practices such as discovery, conferences, motion practice, and hearing time. Such seemingly small details can save you a lot of money and save you on the attorney fees as well.s
