Arbitration Arbitration is a legal process wherein the resolution of a dispute is determined by a neutral called an arbitrator, by whose decision the parties agree to be bound. Arbitration is most commonly used for the resolution of commercial disputes, particularly in the context of international commercial transactions. TMG'S experienced neutrals can assist parties to narrow the issues, thereby reducing the time and expense of the arbitration process.
Why use Arbitration?
TMG's Innovative Approaches to Customized Dispute Resolution Arbitration offers parties the benefit of finality: when the arbitration decision is rendered, the matter is over. On some occasions it can be useful to combine arbitration and mediation using either one person to be both arbitrator and mediatior, or separate professionals for each component. In mediation-arbitration (med-arb), the parties agree to mediate for a fixed period of time. If no settlement is reached, the process converts to arbitration and a hearing commences. In arbitration-mediation (arb-med), the parties begin with arbitration. At the end of the hearing, the arbitrator reaches a decision, which is not immediately communicated to the parties. Instead, the parties enter a mediation. At the end of the designated time, if an agreement has been reached, the arbitration award is discarded. If not, the arbitrator delivers the award. For large, complex cases, TMG can provide a three-arbitrator panel selected from our own group of expert neutrals. Other combinations of arbitration and mediation can be designed to meet the needs of the parties. Download TMG's Arbitration Brochure TMG's Arbitration Panel The TMG arbitrator panel is composed of attorneys and retired judges with recognized experience and expertise over a broad range of civil disputes. Each has a career-long reputation for excellence.
arbitration Fee Schedule Arbitration fees consist of an administrative fee, fees for the arbitrator’s professional services, and, if necessary, cancellation or postponement fees. Administrative Fees: For arbitrations with a single arbitrator, there is a non-refundable case management fee of $250 per party which covers case filing, administrative support and case management functions. Case management fees are payable in advance and must be received before arbitration services will be provided. TMG may cancel a hearing if these fees have not been received. Hourly rate: For most of TMG’s arbitrators, an hourly rate of $200 per party applies to any two-party dispute. If an individual neutral’s rate is different than this standard fee, it will be so noted on that arbitrator’s biographical profile. Multi-party discounted rates: For three parties, all time spent by the arbitrator is billed at an hourly rate of $175 per party. For four parties, all time spent by the arbitrator is billed at an hourly rate of $150 per party. For five or more parties, a reduced rate will be negotiated, on request. The arbitrator’s professional rate applies to all time spent by the arbitrator in pre- and post- hearing reading and research, at the hearing itself, for telephone work done by the arbitrator in advance of or after the hearing, as well as for preparation of the arbitration award. All professional fees must be received in full before service of an arbitration award that the arbitrator has rendered. Unless alternate arrangements are agreed upon in advance, professional fees will be divided equally between or among the participating parties and parties will be invoiced accordingly. Billing for travel time: Travel time is billed only when non-local travel is required by the mediator and will be discussed in advance. Typically, travel time is billed at half the regular hourly rate, as described above. Cancellation/Postponement Fees: For cancellations/postponements made within two weeks of the scheduled session, the full session fee will be invoiced to the canceling party. For cancellations/postponements made more than two weeks in advance of the scheduled session, there will be no cancellation fee. The canceling party will, however, be assessed all professional fees for any time already spent by the arbitrator. In the event that responsibility for the cancellation is not clear, the fee will be divided equally between the parties.Please note that in addition to these cancellation fees, the case management fee, as stated above, is non-refundable. Checks should be made payable to The Mediation Group. Our Federal Tax ID number is 04-291-0698.
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