Arbitration TMG offers arbitration services which combine professional expertise and integrity with flexibility and innovation. Arbitration enables parties to:
what is 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.
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. 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. For arbitrations involving a tri-partite panel of arbitrators, where TMG will serve as case administrator, the case management fee is $500 per party. For arbitrations in which there are 10 or more days of hearings, there will also be a per-diem fee of $100 per party for each day of hearings beyond the tenth day. 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. Arbitrator’s Professional Fees Hourly rates for a two party arbitration range from $300 to $450, depending on the neutral selected, and are listed on the individual arbitrator’s biographical profile. Unless other arrangements are agreed to in advance, the arbitrator’s professional services are divided equally between the parties. 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. 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 example, if a 4-hour hearing has been scheduled, the arbitrator’s full hourly rate multiplied by 4 will be assessed 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. Please note that in addition to these cancellation fees, the case management fee, as stated above, is non-refundable. In the event that responsibility for the cancellation is not clear, the fee will be divided equally between the parties. Checks should be made payable to The Mediation Group. Our Federal Tax ID number is 04-2910698.
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