Arbitration occurs outside of the court of law, unlike litigation, also known as the conventional resolution process that takes place in the courtroom. This process occurs under an arbitrator rather than a judge. Arbitration is relatively less expensive compared to litigation. However, the cost depends on the lawyer hired for this purpose. In this article, we will see the 5 advantages of hiring a referee. Keep reading to know more.

Advantages of arbitration

First, arbitration allows both parties to decide on the procedure and the structure of the procedure.

Process control

As stated above, this process allows the parties to decide on the structure of the procedure based on an agreement. Therefore, this can significantly streamline the procedure to suit the requirements of the case.

Purpose: the referee’s decision is final. Even if one of the parties decides to challenge this decision, it must respect the limitation established by the Arbitration Law. Under the agreement, the decision is final and can lead to proceedings that can continue for years before the court of law announces the verdict.

Privacy: Another benefit of this alternative is privacy. Court proceedings are open to the masses, while arbitrations are conducted in private. If the matter is related to trade secrets or proprietary technology, it makes sense for both parties to allow only a select few people to be present during hearings.

Convenience: In case of litigation, the trial dates are set by the court of law based on the convenience of both parties. In some cases, the interval between trials can be quite long. This can be quite inconvenient for business owners who don’t have a lot of time.

On the other hand, arbitration dates can be quite flexible. The parties can decide when they can meet to continue the matter. Therefore, they can decide the dates of the trials by mutual agreement.

Costs

Arbitration can help save a lot of money as the matter is resolved out of court without paying a lot of money to expensive attorneys. Also, the matter can be resolved without having to travel to court for several months or years. Therefore, it makes sense to enlist the services of an arbitration attorney.

Simply put, if you want to resolve a dispute without taking the matter to court, we suggest that you try the services of an arbitration attorney. Hopefully, these advantages are compelling enough to go with a referee rather than a professional attorney to handle your case in court.