What is Arbitration?
Arbitration is a dispute resolution process where all of the parties present their issues to one Arbitrator who will make a decision and determine the outcome. The Arbitrator is a neutral third person who is qualified to hear dispute cases.
Why handle a dispute with Arbitration?
Arbitration is a process that is governed by state and federal laws. It is usually used in the business world to resolve disputes between businesses. It is also used for disputes between a consumer and a merchant, and to settle labor-management issues involving rights and interest. The process is faster and less expensive than going through the court system. It is more convenient and flexible than court for the parties to attend.
Facts About Arbitration:
- The Arbitration process is confidential.
- The Arbitrator controls the process.
- The parties are limited in what they can do.
- The parties may not be directly involved.
- There can be formal rules for procedures and evidence to be followed.
- Someone (usually an attorney) present the facts of the dispute/issue.
- The Arbitrator determines the outcome.
- Parties have no control over the decision.
- The decision is usually legally binding.
- One side usually wins.
Where is the Arbitration Held?
Since the Arbitration process is somewhat more formal, it is usually done in a private office or conference room setting. Jim Kuykendall will work with the parties involved to determine a suitable location. Depending on the requirements, some locations may require an occupancy charge.
What You Can Expect By Agreeing to Arbitrate:
The Arbitrator is a paid, neutral third party that will provide an impartial and binding decision. The Arbitrator will oversee the hearing similar to how a Judge would oversee courtroom procedures and testimony. The representatives will have an opportunity to present their evidence during the formal process. The Arbitrator may ask questions to ensure clarity and full understanding of the situation as presented. Upon completion and understanding of the available information, the Arbitrator will take all of the information into consideration and make a decision. There will typically be an estimated time for Arbitrator to present his or her findings and decision to the parties involved.