Arbitration Forum Offers Simple Alternative to Litigation
An arbitration forum provides parties in dispute with a way to keep their disagreement out of court. The arbitration attorney is a key player in the process. It is his job to review all the facts and information pertinent to the case, question the disputing parties as needed, and then issue a decision. In most situations, this decision will be a final one and no appeal will be possible.
Arbitration Forum Advantages
Fees and expenses are less with arbitration than with traditional court procedures, but the greatest advantage of arbitration in many cases is the speed with which the case can proceed. Lengthy depositions and interrogatories, including courtroom disputes about the breadth and scope of the questions, are not typical of arbitration, but they are a feature of most lawsuits. Indeed, the discovery stage of a lawsuit can stretch into years or even decades before the case itself ever comes before a judge or jury for a final determination of outcome. With arbitration, even the most complex cases are often completed within a year or less.
A key feature of an arbitration forum is that when the case reaches an outcome, it is a final outcome. This is important in securities arbitration because the need for stability and security in the matter of projected expenses is of paramount concern to businesses. Individuals, too, will not face the prospect of years of more litigation and an unpredictable final legal bill when appeals are at last exhausted by both sides.