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Arbitration

Making an Informative Decision: Pros and Cons of Having an Arbitration Clause in a Contract

Arbitration is a popular mechanism often used in place of litigation. When a dispute occurs between respective parties that decide to handle their disputes in an arbitration proceeding, instead of bringing the dispute to a courtroom, it is brought before an arbitrator whom will solely hand down a resolution to that particular dispute. There are many pros and cons of having an arbitration clause in a contract and both should be looked at carefully to ensure you are behaving in your best interests. Deciding whether arbitration is right for you can be a difficult and complicated decision. While arbitration may be appropriate in some cases, it may not be the best decision in others. The decision to arbitrate should not be a “one size fits all” type of decision. To find out if arbitration is for you, it is often recommended that you speak to an attorney familiar with the arbitration process in order to advise you accordingly.