Benefits of Using an Arbitrator
Although there are countless benefits of using an arbitrator, we made an effort to concentrate the main ideas into a short-and-sweet article. The following is a friendly list of the five main benefits of arbitration.
More cost effective- Filing for an arbitration case costs considerably less than filing for a lawsuit. Additionally, arbitration usually requires considerably less intervention from lawyers, and the time that it takes to conduct and finish an arbitration proceeding is by-and-large much quicker than trial court. Since less time is required for legal advice and court proceedings the costs are also much better.
Provides relief for the overcrowded court systems- In the US, and worldwide, the court systems are often weighed down with overwhelming numbers of court cases. Arbitration takes away much of the heavy burden from the courts which allows them to function more quickly and efficiently.
Broader Access to Justice- Since trial court is so expensive it is only natural that there are many people that are not able to afford taking their cases to court. As a result, justice is not served with a large and important chunk of the population, namely those who are not wealthy. Socially and morally there is a lot to be desired in a system where the underprivileged can be sued, but they can’t afford to sue. Although arbitration does not solve the problem altogether, because it does cost something after all, being as it is a less expensive process it does allow for more folks to bring their complaints to justice.
People are Pleased with Arbitration- According to published data people who go thru the arbitration process are not any more likely to fight the decisions of that arbitrator than those that have been through the judicial system. In fact, many of the data show that people are actually less likely to challenge the decisions of an arbitrator. The only logical explanation is that people are generally pleased with the decisions that arbitrators reach.
Convenience- Arbitration does not require of people to put everything in legal jargon which takes a lot of time, effort, and if you hire a lawyer, money. Rather, during the arbitration process parties are able to respond to arbitration claims in laymen’s terms in order to explain themselves. Also the hearing dates and times are not assigned, rather everybody involved agrees on a date and time that is convenient for them. Obviously both parties benefit from such flexibility because nobody is forced to take off of work unnecessarily or miss other important affairs.
Now that you have a good idea of the general benefits of using an arbitrator please consider your own specific situation and decide whether these benefits are good for your purposes.