What are the cost differences between arbitration and litigation?

What are the cost differences between arbitration and litigation?

Arbitration typically has lower upfront costs compared to litigation, but it can vary based on the complexity of the case.

Can you break down the costs involved in both processes?

Sure! In litigation, you have court fees, attorney fees, and potential jury costs. Arbitration usually involves arbitrator fees and administrative costs.

Are there any hidden costs in arbitration?

Yes, hidden costs in arbitration can include travel expenses for hearings and additional fees for expert witnesses.

Which option is generally faster and cheaper?

Arbitration is generally faster and can be cheaper, especially for simpler disputes, but it depends on the specific case.