How can arbitration benefit me?

How can arbitration benefit me?

By going through arbitration, opposing parties may be able to come to an agreement. This process is binding and confidential. Through arbitration, a panel of attorneys will be present. These attorneys will be highly skilled in the area that is being handled for this case. The attorneys, known as the arbitrators, will hear each side of the case. After hearing both sides from each party, they will decide on the matter. Their decision is binding and cannot be appealed once it is made.

Is mediation an option?

Another option that individuals have is to participate in mediation. Mediation is a way to get two parties together to make a decision with the help of a neutral third party. This process is often used to handle divorce cases. Through mediation, the parties can discuss the matter at hand to present possible resolutions. The mediator is the third party, but does not decide on the matter for the other two parties. Instead, the mediator is there to guide the discussion and make sure that it is constructive, rather than just consisting of arguments. The end goal of mediation is to have the opposing parties reach an agreement. This agreement will be written down and signed by both parties. When parties enter into mediation, they have the ability to end the process at any time. If they are not happy with the way things are going, they can opt to end mediation.

Why not enter into litigation?

Arbitration and mediation are two ways to resolve issues that avoid the process of litigation. By avoiding litigation, parties that are involved may be able to save time and money. Since judges need time to consider both sides of the argument and to make a decision, this can take place throughout many court appearances. This may be time-consuming for cases. If it is time-consuming, it may also be even more expensive when attorney fees are required for the time spent fighting in litigation. Parties should consider all their options before entering into court. They may be able to solve their problem more efficiently.

The Law Offices of Richard E. Novak, LLC has over 25 years of experience helping clients through tough times when they need it most. If you need assistance with any intellectual property, traffic violations, or business law matters, our firm is here to help. It is critical that you pick the right attorney who can protect your rights. Contact The Law Offices of Richard E. Novak, LLC for a consultation.