Arbitration Course - Mediation, Conciliation, Resolution Cnj 125-2010 - Francisco José Cahali

Introduction

In today's fast-paced business world, disputes are inevitable. However, how you resolve those disputes can make all the difference. Arbitration is a popular method of alternative dispute resolution (ADR) that can help you save time, money, and stress.

What is Arbitration?

Arbitration is a process in which a neutral third party (the arbitrator) hears both sides of a dispute and then makes a binding decision. Arbitration is often used to resolve business disputes, but it can also be used to resolve personal disputes, such as divorce and child custody cases.

Why Choose Arbitration?

There are many benefits to choosing arbitration over litigation, including:

• Speed: Arbitration is typically much faster than litigation. This is because there are fewer procedural rules and the parties have more control over the process.
• Cost: Arbitration is often less expensive than litigation. This is because there are no court costs or filing fees, and the parties can agree to split the cost of the arbitrator.
• Privacy: Arbitration is private, which means that the details of your dispute will not be made public. This can be important for businesses that want to protect their trade secrets or other confidential information.
• Flexibility: Arbitration is flexible, which means that the parties can tailor the process to their specific needs. For example, the parties can agree to use a specific set of rules, or they can even create their own rules.

How Does Arbitration Work?

The arbitration process typically begins with the parties filing a joint request for arbitration. The request for arbitration should include the following information:

• The names and addresses of the parties
• A brief description of the dispute
• The amount of money in dispute (if any)
• The relief sought by the parties

Once the request for arbitration has been filed, the arbitrator will be appointed. The arbitrator will then hold a hearing, at which both sides will have the opportunity to present their evidence and arguments. After the hearing, the arbitrator will issue a written decision. The decision of the arbitrator is binding on both parties.

What are the Different Types of Arbitration?

There are two main types of arbitration:

• Binding arbitration: In binding arbitration, the decision of the arbitrator is final and cannot be appealed.
• Non-binding arbitration: In non-binding arbitration, the decision of the arbitrator is not final and the parties can still appeal to court.

Which Type of Arbitration is Right for You?

The type of arbitration that is right for you will depend on the specific circumstances of your case. If you are looking for a quick and inexpensive way to resolve your dispute, then binding arbitration may be a good option. However, if you are concerned about the finality of the arbitrator's decision, then non-binding arbitration may be a better choice.

Conclusion

Arbitration is a powerful tool that can help you resolve disputes quickly, cost-effectively, and privately. If you are involved in a dispute, I encourage you to consider arbitration as an alternative to litigation.