Benefits of Arbitration
Arbitration may offer several advantages when compared with litigation, including:
- a faster process
- more flexibility and control over the process
- the availability of subject-matter expert arbitrators
The parties to an arbitration process have greater control over the timing of processes than in litigation, in which the rules of court, statutes, and the availability of court resources can determine the pace of the process. If the parties wish to have a dispute determined in a streamlined fashion, arbitration may offer a faster and more flexible method for the determination of the dispute. Arbitration is also an attractive option for some where qualified subject-area experts are available to act as arbitrators, and whose expertise allows them to hear and decide an issue in an expedited fashion compared to a judge who may not be as familiar with the issues in question. If parties wish to avoid a protracted and public dispute in the courts, the confidentiality offered by arbitration will be an attractive alternative to litigation.