Arbitration is a contract-based form of alternative dispute resolution that allows parties to avoid costly and time-consuming litigation. Typically, arbitration occurs as a result of an arbitration clause that requires the parties to engage in arbitration rather than going to court.
Importantly, unlike mediation, arbitration can be binding, meaning the parties to the dispute must abide by the arbitrator’s decision. As a result, anyone engaging in arbitration should be sure to retain an attorney to represent their rights.
When parties to a dispute agree to arbitration, they agree to have a neutral third party determine the outcome of any disputes that arise. Arbitration clauses often are used in employment contracts, commercial transactions, website terms and conditions, and consumer contracts. Arbitration clauses can make going to arbitration mandatory or voluntary and can also designate arbitration as binding or non-binding.
Many companies use arbitration clauses because it is usually faster, more efficient, and more flexible than taking a dispute to court. In addition, unlike a court proceeding, arbitration keeps the details of the dispute private.
That said, arbitration can have certain disadvantages. Most notably, in many instances, you cannot appeal an adverse decision. In addition, you may not have the right to engage in discovery the way you would in litigation. Finally, arbitration may be more expensive than filing a lawsuit in court.
Call Us Today to Speak with an Atlanta Business Litigation Attorney
If you are involved in arbitration or expect to be soon, it’s in your best interest to contact an Atlanta business litigation lawyer as soon as you can. Attorney Mark Battleson has over two decades of experience practicing law and is qualified to represent a wide range of clients in arbitration and litigation. To schedule a case evaluation, call Battleson Law, LLC, today at 470.398.1175 or contact us online.