What are the Benefits of Arbitration? Part 2
In part one of this two-part series, a Nashville construction litigation attorney from Cotney Attorneys & Consultants discussed two important benefits of arbitration, including:
- Increased privacy when resolving disputes
- Quicker resolutions that avoid the time-consuming processes inherent to litigation
Now, we will continue to discuss this topic. Remember, arbitration is a unique alternative to litigation, which is oftentimes too restrictive, and mediation, which might not have the necessary power to help you reach an amicable resolution. If you are currently dealing with an owner who refuses to pay, or another source of conflict that requires resolution, consult our Nashville construction litigation attorneys to see which type of dispute resolution is best suited for your particular case.
When you resolve a dispute with arbitration, you are only responsible for the fees charged by the arbitrator and your attorney. The arbitrator’s fee will largely depend on the size and complexity of the claim, the expertise and experience of the arbitrator, and any necessary expenses. Since arbitration is less time-consuming and resource hungry, attorney fees will be significantly less expensive than those required for litigation. However, the largest cost savings may be the result of eliminating court costs altogether.
Choice of Arbitrator
When you enter the arbitration process, both parties must deliberate on the individual or individuals that will hear the case. Conversely, litigation utilizes an appointed judge. This means neither party has any control over the selection. When the time comes to start a hearing, it’s beneficial to already have one resolution (i.e., choice of arbitrator) under your belt. Since the arbitrator must be an impartial third-party, it’s important that several arbitrators are considered to prevent a conflict of interest from compromising the integrity of the arbitration process.
No Subpoenas, No Interrogatories, No Discovery
Arbitration limits the type and volume of evidence allowed to be presented. This limited evidence process, which is controlled by the arbitrator, helps simplify and expedite the case. During litigation, both parties are responsible for providing a full disclosure of the evidence they intend to use against the other party. Since there are no strict rules of evidence, there are no subpoenas, no interrogatories, and no discovery process. That means you can resolve your dispute quickly and get back to work on the project site.
If you would like to speak with one of our Nashville construction litigation 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.