What are the costs associated with different dispute resolution methods?

What are the costs associated with different dispute resolution methods?

The costs can vary significantly. Mediation typically costs less than arbitration, while litigation can be the most expensive.

Can you break down the costs for each method?

Sure! Mediation usually ranges from $100 to $300 per hour, arbitration can be $200 to $500 per hour, and litigation can exceed $10,000.

What factors influence these costs?

Factors include the complexity of the case, the duration of the process, and the fees charged by professionals involved.

Are there any hidden costs I should be aware of?

Yes, hidden costs can include administrative fees, travel expenses, and potential costs for expert witnesses.