What is the role of arbitration in dispute resolution?

What is the role of arbitration in dispute resolution?

Arbitration serves as an alternative to litigation, allowing parties to resolve disputes outside of court.

How does arbitration differ from mediation?

While both are forms of alternative dispute resolution, arbitration involves a binding decision from an arbitrator, whereas mediation focuses on facilitating a mutual agreement.

What are the advantages of choosing arbitration?

Some advantages include confidentiality, faster resolution times, and the ability to choose an expert arbitrator in the relevant field.

Are there any disadvantages to arbitration?

Yes, disadvantages can include limited appeal options and potentially higher costs compared to traditional litigation.

Can arbitration be used for all types of disputes?

Not all disputes are suitable for arbitration; some may require court intervention, especially in cases involving public interest or statutory rights.