In some cases, arbitration may be a better option than going to trial. It can cost less in both time and price than a trial. It can also be a more amicable way to handle an issue between two parties that need an issue resolved but do not want to harm the positive work they’ve done in the past. Our Orlando arbitration attorneys can assist you in your dispute, to find out how, please contact us today.
How Arbitration Can Help You
If you don’t want to go to trial, you can request to go to arbitration instead. Arbitration is a more private and flexible option. It is also a less hostile environment than going to trial. Parties in arbitration are encouraged to work together to come up with a solution that works best for both parties. A trial means that one party wins and the other loses. Since no one wants to be the loser, they both fight harder to get their side seen as the right option.
Arbitration seeks to avoid the animosity of the courtroom. Both sides present their arguments to an arbitrator. Challenges are made to the legal issue by the attorneys on either side, and the arbitrator — a neutral third party — hears out those arguments and challenges. In time, usually a few weeks, the arbitrator will come to a decision on the case.
There are two options in arbitration that need to be considered before agreeing to that as an option. The parties can agree to “binding arbitration” in which whatever decision the arbitrator comes to is final and cannot be appealed or overturned. They could also agree that they will either accept or decline the arbitrators’ decision depending on how agreeable that decision is to both sides.
In Binding Arbitration the decision is final and whatever the arbitrator decides has the force of law. In Non-Binding Arbitration the parties can agree to try a different route such as continuing to litigate, going to trial, or even attempting arbitration again, but with a new arbitrator.