With lengthy delays and mounting costs of litigation, many organizations now make the affirmative decision to arbitrate their business, employment and other disputes. Sophisticated businesses and individuals seek to have their disputes resolved in a timely manner by a person or panel with some experience with their field. Arbitration, in theory, should meet those needs and avoid the long, expensive, often unpredictable path of litigation. Selecting arbitration as the right forum is only half the challenge. It requires a careful balancing of the risks and benefits, especially when the ADR provision may not be utilized until several years later. The remainder of the challenge is drafting an ADR provision that will be enforced by the courts, if needed. Fortunately, legislation and recent judicial decisions confirm that arbitration is a favored means of dispute resolution.

Link to full article

By using this site, you agree to our updated Privacy Policy.