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Arbitration dispute resolution

Arbitration dispute resolution is a method by which two parties to a contractual dispute have the issue decided by an unbiased legal professional who acts as an arbitrator.

The most common legal dispute resolution is litigation in which one party files a claim in court against the other party and the case is heard before a judge. In arbitration dispute resolution the parties present their cases in front of a legally binding arbitration tribunal. The members of this tribunal are chosen by the parties to the dispute. If an uneven number of arbitrators make up the tribunal it is normal for each party to appoint an equal number, and the final appointment to be made jointly.

Arbitration dispute resolution has several advantages over litigation. The three most significant are a shorter time scale, potentially reduced costs, and the ability to select individuals with relevant industry knowledge as arbitrators. The costs and time associated with litigation are considerable. Although arbitration can be complex, and arbitrators do sometimes charge substantial sums, the overall time spent in arbitration is much less than litigations, and as a result the costs are usually lower as well. The ability to select industry-specific arbitrators means that both parties have less explaining to do when giving their arguments, which makes the whole procedure much more straightforward.

If you are in a dispute, and are considering entering into arbitration, it is important to ensure that arbitration is right for your case. There are certain areas where arbitration is an ideal dispute resolution option, such as shipping, and others, such as road-traffic accident claims, in which the process does not fit so well.  

If you would like to obtain legal advice on arbitration dispute resolution, Caven can put you in touch with a local arbitration solicitor free of charge. So, if you have any questions or would like our help in finding local arbitration solicitors please call us on 0800 1777 167 or complete the web-form above.

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