Arbitrators – Who Are They?
When two or more parties have a dispute they may choose to take it to arbitration, a form of alternative dispute resolution (ADR), rather than litigation. When initially forming some type of business relationship, it is common for parties to agree to arbitration prior to a dispute; for example, by signing a contract with a pre-dispute arbitration clause. Arbitration is often preferred over litigation as it is relatively quick and inexpensive. In the event a dispute does arise and it is taken to arbitration, arbitrators are the neutral third parties who are responsible for rendering a binding decision, such as financial reparations.
Arbitrators are usually law professionals, such as attorneys or retired judges that rely on their background knowledge to come to an informed and fair decision when hearing cases. Arbitrators act like “private judges,” reviewing all evidence submitted by the parties in dispute and by conducting any necessary hearings in which the parties state their position. Once arbitrators make a final decision, it is given to the parties in writing and is enforceable by law under the Federal Arbitration Act. If one of the parties breaks the agreement it can be taken to court.
What Are the Qualities of Effective Arbitrators?
They are good listeners and will act as a channel through which the parties can reach a dialogue.
Having extensive experience in a field is particularly important when an arbitrator is involved in a complex case. Some arbitrators will even choose to specialize in a particular area of law in which they have a depth of experience. Being well-versed in the area of the dispute, such as business to business, business and individual or vehicle/property damage, is crucial in being an effective arbitrator.
Arbitrators must also be unbiased and have no connection with the parties in the dispute or conflicts of interest. They are responsible for ensuring that matters are handled fairly without taking sides.
Highly Skilled Arbitrators at ARS
At ARS, our arbitrators have a wealth of knowledge and experience and are randomly selected to ensure complete impartiality. ADR is even more convenient at ARS; not only do we offer highly skilled arbitrators, users of our entirely cloud-based platform, Arb-IT™, can access their services from the comfort of their own businesses, offices or homes, submitting all of their evidence online and attending optional hearings via video or telephone conference. No longer do you have to be burdened with prolonged, expensive litigation and difficult-to-attend court dates. Call ARS today at 888.934.1777 or leave a message on our contact page to have your arbitration made easy.