Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.
Arbitration
| Alternative dispute resolution |
|---|
|
Arbitration, a form of alternative dispute resolution (ADR), is a way of resolving disputes outside the courts. Litigation can be expensive, time-consuming and unpredictable.[1] With arbitration the parties to a dispute agree to have the disagreement decided by a neutral third party.[2] More often this is a panel of three arbitrators. Each party suggests one, then both arbitrators agree on a third arbitrator.[1] The decision is the result of a majority vote.[1]
- ↑ 1.0 1.1 1.2 "Mediation vs. Arbitration vs. Litigation: What's the Difference?". FindLaw. Retrieved 22 October 2015.
- ↑ "Arbitration". The Free Dictionary/Farlex. Retrieved 22 October 2015.
Previous Page Next Page
