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Arbitration defined

October 25, 2011

– I’ve used the term arbitration in my blog, but I’ve not yet defined it.
– My website has a concise definition of it, but think of arbitration as a sort of court of law, although, it’s one in which you choose the judge.
– The arbitrator hears the sworn testimony, and after hearing all of the evidence and looking at the documents the parties have shown him or her, the arbitrator makes a decision.
– The decision has the force of a judgment of a court; however, just like a decision of a judge, it can be appealed.
– The point is, that if you agree before mediation that you will have an arbitrator decide the issue, if you have been unable to resolve it at mediation, there is that “threat’ hanging over both parties that there will be a decision made, one way or the other.
– Arbitration tends to be less formal than a court of law, but it does get you a decision, and it gets that decision faster and cheaper than litigation.


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