What is arbitration and how does it work?

What is arbitration and how does it work?

Arbitration is a method of resolving disputes outside of court, where an impartial third party makes a binding decision.

What are the advantages of choosing arbitration over litigation?

Some advantages include faster resolution, confidentiality, and the ability to choose an arbitrator with expertise in the subject matter.

Are there any disadvantages to arbitration?

Yes, disadvantages can include limited appeal options, potential bias of arbitrators, and costs that may still be high.

How do I initiate an arbitration process?

To initiate arbitration, you typically need to refer to the arbitration clause in your contract and file a request with the chosen arbitration institution.