Arbitration is a well-established, widely used means to resolve disputes. Like mediation it provides a choice other than traditional litigation, with its built attendant costs and likely delays, to resolve disputes. Arbitration like mediation is a less formal process that allows the parties to agree and select an impartial third party, the arbitrator, to arbitrate the matter. In some instances, if litigation has begun, the court may direct or order arbitration.
Unlike mediation, arbitration is final and binding on the parties. Only in limited, well defined cases is there an avenue for appeal. The ruling of the arbitrator carries the force of law.
An increasingly wide range of issues are resolved by arbitration. Arbitration has broadened from the traditional labor and commerce cases and automobile insurance claims to include most matters that would be found in a court setting.
Advantages to Arbitration
Simplified process – The procedural rules of arbitration are far less formal than those of the traditional litigation, allowing for a more flexible process to resolve disputes that may arise during the arbitration to be resolved more readily in arbitration than in a court setting.
Time – Cases that are arbitrated generally resolve in a fraction of the time a traditional law suit would take in a court setting. The arbitrator is able to dedicate specific time to the matter with fewer delays and more scheduling control by the parties.
Confidentiality – If privacy is a concern, such as in matters of trade secrets, arbitration offers the additional advantage of privacy. Generally, arbitration filings and findings are not part of the public record. This may be of particular importance in matters where parties wish to maintain privacy.
Closure – the arbitration results in a final decision which brings closure to the dispute. The matter is settled. Except in narrow circumstances the decision of the arbitrator is non-appelable.
Why choose Judge Nicholas Stroumtsos (Ret.) as your Arbitrator
Judge Stroumtsos’ 20 years of Experience as a sitting judge has given him a background which includes hundreds of cases where he presided over Bench Trials, these cases tried without the benefit of a jury require the utmost attention to details of law and intricacies of the case. His extensive experience routinely presiding over complex matters in this manner has developed the highest level of skill that has significant benefit complex arbitration. His experience on the bench and his experience as a mediator have honed his highly effective skill of isolating the key issues of a cases and allowing the matter to move forward quickly. Accumulating benefits in both time and cost to clients.