When it comes to lawsuits, it doesn’t always need to go to court. When two parties come to a mutual agreement, they can settle things outside of court so that there is a minimum of fuss. No one wants to be stuck in lawsuit hell for months on end. The only ones benefiting from that would be the lawyers.
That’s why arbitration and mediation services are a popular option nowadays. These services do a great job of resolving disputes.
Here are several advantages to using arbitration instead of going to battle in court:
Less Hard Feelings
The main problem with two sides going to court is that there is a lot of hostility generated in such legal battles. Both sides would be doing their best to get the upper hand and this can sometimes involve very hurtful things. Arbitration is more of a cooperative exercise than a fight. Both sides want something and they work together to achieve all or some of those desires. The goal of arbitration is to have both parties walk away pleased with the results.
Lower Costs
In the long run, arbitration can be less expensive than going to court. One of the key things to remember is that you and the other party will be paying the arbitrator for their services. Depending on how experienced the arbitrator is, they may charge a premium. You will also most likely be bringing a lawyer along, but they’ll be there mainly for advice and not at their full capacity.
The key thing to remember here is that arbitration is faster than court litigation that can take months. Even if an arbitrator charges top dollar, they won’t cost you millions that a months-long lawsuit can cost you.
Speed and Flexibility
As mentioned above, arbitration is fast. If the dispute is simple, the arbitrator can resolve it in an afternoon. At worst, you are looking at a week. With lawsuits, you can face up to three years of court appearances and more. This can be severely draining and time-consuming, especially if you have a business to run.
It also helps that you don’t have to do this arbitration in court. All you need is a private room to discuss things and some time off your schedule. There’s no need to wait for a court to open up before resolving everything. You can even arrange the arbitration schedule instead of having to follow the court’s mandated appearances.
Less Strict
The arbitration process is not as formal as court litigation. That means it is more relaxed when it comes to presenting evidence and following court procedures. This contributes to how fast it moves since both parties can just present their evidence and their grievances and have the arbitrator help them decide.
Conflicts don’t need to be long and stressful battles in court. They can be resolved peacefully and quickly, with both sides satisfied that they received what they needed. Anyone facing a potential lawsuit should consider resolving the issue out of court to cut down on costs and other problems.
