Advantages And Disadvantages Of Arbitration

Advantages And Disadvantages Of Arbitration

Businesses protect themselves from the high cost of litigation by including arbitration clauses and waivers of the right to jury trial in their terms and conditions. The question whether the trend to include arbitration provisions and waivers of the right to jury trial benefits our "country" depends on whether you believe benefiting our country means benefiting individuals or benefiting the country as a whole. In order to answer this question, one has to understand how the arbitrators are selected, and who they are accountable to. The other consideration is the options available, if any, where a party to arbitration objects to the decision. Arbitration is an alternative legal dispute resolution process where instead of bringing your legal dispute to a court presided over by an elected judicial official, the dispute is less formally presented to an individual or a panel of arbitrators who are either appointed by the courts or employed by private arbitration firms. Mandatory arbitration clauses typically appear in government contracts, union contracts, consumer contracts and employment contracts. The arbitrators are more likely employees of private arbitration firms nominated or designated by one or more parties. Some advantages of arbitration are as follows. According to mediate.com, the decision maker typically has some experience or expertise in the subject matter. The arbitration process is quicker than a court proceeding so that you have a resolution of your dispute

... Get more on HelpWriting.net ...