| Arbitration is a fast, confidential and economical way to settle most disputes
outside the courtroom. It is a process by which parties submit their dispute to an informed neutral third party (the
arbitrator) who is empowered to render a binding decision.
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Q:
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What Types Of Disputes Can Be Settled By Arbitration? |
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A: |
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Disputes between
- Homeowner Associations/Owners
- Developers/Property Owners(construction defects)
- Buyers/Sellers (real estate, businesses, personal property)
- Real Estate Broker/Client/Agent
- Mortgage Broker/Client/Agent
- Homeowner Association/Management Company
- Employer/Employee (wrongful termination, sexual harassment discrimination)
- Landlord/Tenant
- Partners (formations/dissolutions)
- Debtor/Creditor
- Insurance Company/Insured
- Spouses (divorce, custody, support, visitation, prenuptial)
- Stock Broker/Client
- Neighbors (nuisance, property boundaries)
- Subcontractor/Contractor
- Franchisee/ Franchisor
- Lawyer/Client (fee disputes/malpractice)
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Q:
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What Are The Benefits Of Arbitration? |
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A: |
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The most common advantages are that:
- Parties almost always save money by reducing the hours spent by legal counsel.
- Documents and testimony presented do not become part of the public record. Consequently, it is more
confidential.
- It often reduces insurance claims and, therefore, premiums.
- The process is faster than a court trial.
- The possibility of an adverse court judgment can be avoided.
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Q:
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How Long Does It Take? |
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A: |
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Arbitration can be conducted in much less time than a lawsuit. Arbitrators are often
available during evenings or on weekends as well as during normal business hours.
Generally, an arbitration should take less than half the time of a court trial.
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Q:
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Is Arbitration Binding? |
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A: |
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Like a judge, an arbitrator has the power to render a final and enforceable decision.
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