3 Important Distinctions Between Litigation and Arbitration
When it comes to disputes in the construction industry, figuring out the best method for reaching an amicable resolution can be challenging. Naturally, you want to preserve your business relationships, but you don’t want to let others walk all over you to achieve success, either.
Thankfully, as a contractor, it’s not your job to figure out the best way to handle disputes. This is best left to the services of a Nashville construction lawyer who has spent years fighting on behalf of contractors. At Cotney Attorneys & Consultants, our Nashville construction lawyers can assist you with all of your dispute resolution needs. We can help you win in the courtroom or assert yourself at the arbitration table, but before we get started, it’s important that you understand these three important distinctions between litigation and arbitration. We can provide you with the legal advice you need to make an informed decision about how to handle disputes, but the final decision of what to do so is ultimately up to you.
1. Arbitration Preserves Privacy
Litigation is a formal process that takes place in a public courtroom. When you choose to litigate against an owner, the veil of privacy is pulled open and your business will be put on display for all to see. Information that you hold close to the chest could be made public. News stories may be published discussing the case and the parties involved. There’s a very good chance that you will not like what you read. You may even feel like your brand is damaged in the eyes of the public.
Conversely, arbitration is a private process that takes place between the disputing parties and an arbitrator. The deal you make will be handled secretly behind closed doors, and you won’t have to worry about your business becoming a televised spectacle or a front page headline.
2. Arbitration Expedites Resolutions
Disputes may be inevitable, but it doesn’t mean the amount of time you spend dealing with them has to be inevitable too. One of the most valuable assets of arbitration is the way it speeds up the process of resolving conflicts. Once you select an arbitrator, you can immediately proceed to a hearing.
During litigation, both parties must wait for the court to schedule a hearing. In some cases, this can take months or even years. Your projects can’t sit idly as you handle conflicts in court. If you need a fast, binding resolution to your dispute, arbitration is the way to go.
3. Arbitration Saves You Money
Contractors are used to managing finances carefully to stay within budget. That means procuring clear and consistent figures for materials, supplies, labor costs, and more. Your dispute resolution expenditures should be equally simple to assess and budget. In arbitration, you are only responsible for paying the arbitrator and attorney fees. You don’t have to worry about exorbitant court costs. Simply contact a Nashville construction attorney to start the arbitration process.
If you would like to speak with one of our Nashville construction attorneys, please contact us today.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.