Arbitration is a process designed to bring closure to legal disputes. Parties present the issues to a neutral arbitrator who issues a binding decision. It is often an efficient and economical alternative to litigation, allowing parties to choose their decision maker, as well as the scheduling and location of the hearings. Arbitration is frequently built into contracts as a standard clause. Whether or not there is a contractual obligation, parties may choose to bring a matter to arbitration at any point in the litigation process, or even before filing suit. They may also agree to bring their dispute a different arbitrator or arbitration organization than is specified in their contract. Arbitration can be a good option for a variety of case types such as commercial, insurance, personal injury and other matters.
Advantages of Arbitration
Finality: Because the decision of the arbitrator is binding, and appeals to a court are quite limited — when the arbitration decision is rendered, the matter is usually over. This allows parties to get out from under the burden of a protracted dispute, putting a difficult chapter behind them and moving on.
Flexibility: TMG can design dispute resolution services tailored to the unique needs of the parties: for example, on some occasions it can be useful to combine the arbitration and mediation processes. For large, complex cases, TMG can provide one or more arbitrators to sit as part of a three-arbitrator panel either selected entirely from our own list of neutrals, or in collaboration with arbitrators from outside of The Mediation Group.
Control: Parties can select an arbitrator from TMG's panel based on areas of expertise, location, and availability. This affords the parties a measure of control not available to them if they opt to pursue their case in the court system.
Efficiency and Economy: Cases in arbitration generally resolve much more quickly than those in litigation. Additionally, costs of participating in an arbitration are usually significantly lower than those associated with trial.
TMG’s arbitrators are senior attorneys and retired judges who will provide parties with a fair, impartial hearing leading to a binding decision.
Fees for arbitration depend on the professional selected, the number of parties and other factors. Please give us a call — we would be happy to send you a detailed fee schedule or help you determine the costs that would apply to you.
Our Experts Specializing in Arbitration