Is Arbitration Ever An Option?

Arbitration is almost always an option.  The questions arises, is it the best option?  That in some cases, it is absolutely the best option.  And I think it’s important to clarify the difference between different types of arbitration. 

Non-binding Arbitration
Non-binding arbitration is a dispute resolution process that many times the court orders you to go through in order to see if you can’t resolve the case short of trial.  Because it’s non-binding, when an award is issued by an arbitrator in a non-binding arbitration, it has no legal affect on the parties whatsoever. 

Binding Arbitration
The second kind of arbitration is a binding arbitration, in which either the parties agree that the arbitrator’s award is going to be the final number and the final verdict amount.  In that case then, it very well might be a good option, because arbitration’s a cheaper, faster, and in some cases more fair way of getting the facts into the hands of a finder of fact, and to have an award issued. 

In Conclusion
The short answer is  arbitration is almost always an option, and in some cases it is the best option.


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