ADVANTAGE OF ARBITRATION

ADVANTAGE OF ARBITRATION

1. FAIRNESS

   • The parties to the dispute usually agree on the arbitrator, so the arbitrator will be someone that both sides have confidence will be impartial and fair.

2. LOW COST

   • the fee paid the arbitrator is a lot less than the expense of paying expert witnesses to come and testify at trial

3. CONFIDENTIALITY

   • Arbitrator hearings are held in private settings and are attended only by those designated by the parties and their counsel.

4. SPEED

   • provides a speedier resolution than proceeding in court

5. EXPERTISE

   • Arbitrators are selected from a pool of professionals, typically with experience in the construction industry and, therefore, may provide a greater level of expertise than a judge

6. FLEXIBLE

   • parties can schedule hearings and deadlines to meet their objectives and convenience

7. LESS FORMAL

   • like a trial but less formal

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