Many commercial contracts require that disputes be submitted to mandatory arbitration, rather than litigating in a public court. Although the parties’ contract can vary the rules by which an arbitration is conducted, they generally share the following common characteristics:
Some arbitrations are just as involved as litigation, with lengthy discovery proceedings. Others are much more streamlined. Most of them involve an evidentiary hearing akin to a trial.
Because the arbitration process can often be tailored much more so than in the case of litigation, a thorough strategy is key to an effective arbitration proceeding. Issues such as the necessity of obtaining information from third-parties, and the cost of paying the arbitrators must be considered.
Even if there is no contract requiring arbitration, businesses can always agree to arbitrate after a dispute arises.
ASG Law has experience in a variety of arbitrations and can help businesses develop and implement a proper strategy to resolve their dispute.