What are the advantages of arbitration?

buisness_projectorSimilar to mediation, arbitration as an alternative to litigation can allow for the saving of time and money to resolve a dispute. The parties can set limits on discovery and the issues to be decided by the arbitrator. These limitations can affect who will testify at the arbitration and what type of evidence will be allowed. The parties have more control of the arbitration process compared to court administered litigation, including where and when the hearing will be conducted. Monetary limits can also be set preventing an arbitration award from exceeding a certain value or assuring that a minimum monetary recovery is obtained.

Each stage reflects a somewhat broader involvement of people outside the dispute. The hope is that the conflict will be resolved at earlier stages, at which the costs, time, and impact of employees and other organizational stakeholders are lowest.

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