Arbitration: Essential Tips On How You Can Keep The Costs Down
Years ago, arbitration was used as a quick solution to a problem. Two disputing parties would go into an arbitration meeting knowing the decision was going to be made by the time they had left. But in recent years, it has seemed that companies are getting bogged down in the litigation aspect which is making them become more costly and causing them to take longer than ever. Though it is becoming more and more common for arbitration costs to get out of control, it is still possible to have a cost effective and efficient arbitration process.
The first way to maintain an efficient arbitration process is to stay focused and make it easy for the arbitrator. If there are a lot of documents, it is better to scan the documents and name them appropriately. You can then email these files or put them on a CD/DVD and send them to the arbitrator so he or she can easily access the information. Keep any documents you plan on using throughout your case conveniently accessible for them so their job can be a little bit easier. This will increase the pace of the case and save you money in the long run.
Another thing you can do to help keep the arbitration costs down is to use everything you have to make your case. In arbitration, the rules on admissible evidence are much more lax than in regular court. In regular court you will have things that are not allowed to be used. This is not the case in arbitration. You can use any evidence you have that you think will help make your case look better and the arbitrator can decide whether or not it is allowed to be used in the case. Do not hold back. The arbitrator will not punish you for using evidence you thought was important so it never hurts to try.
The last thing you can do to try and keep the costs down and make the case run faster is to keep it professional. Do not try to intimidate the opponent, call them rude names, or insult them. This is going to stall the arbitration process and make it take longer than necessary. Keep in mind the arbitrator can force the losing party to reimburse the arbitration costs to the winning party as well. Act in good faith and keep everything professional during the process to try and save some of the costs.
Keeping costs down and improving time is one of the main benefits to arbitration. Make sure to keep an eye on the costs and follow some of our tips to try and help you and your party move on.
About the Author
If you are in a dispute, try considering arbitration first before litigation. Contact Henry Abelman at 770-625-5010 to consult if your situation can best be resolved through arbitration. Henry Abelman is the president of Independent Dispute Resolution, Inc. and is an experienced negotiator skilled at identifying issues, developing solutions, and persuading agreements. Visit http://www.mediation.com/memberprofile/henry--abelman-30301-0a.aspx
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