Benefits of Arbitration
The arbitration process is a cost-effective alternative to litigation. While litigation involves a judge or jury to decide on the outcome of a dispute in court, arbitration, on the other hand, involves an arbitrator who acts similar to a “private judge” who makes a decision that is not necessarily open to the public. In addition to being cost-effective and private, the arbitration process is also a quicker and easier way to solve disputes because of the ability to avoid the court process, which is why litigation can be so costly. Overall, parties have more control in the arbitration process as opposed to the limited input that parties have in the litigation process. With so much time and money being saved through the process of arbitration, claims that were previously unable to be resolved due to costs are now able to be pursued.
An Overview of the Arbitration Process
An arbitration process begins by parties agreeing to submit their dispute to arbitration, agreeing to be legally bound by the arbitrator’s decision. The applicant first submits an application as to why the other party owes them money. Then, the respondent submits a response and can either argue why they do not owe money or they can submit a counterclaim. Once the application and responses are submitted, parties have the opportunity to submit evidence supporting their arguments. Parties then can request a hearing to take place which the arbitrator will come to a decision after the fact, or if no hearing is requested, the arbitrator makes their binding decision after any evidence is submitted. All conferences are conducted entirely online, telephonically or via video, and require no in-person presence.
Arbitration by ARS
Arbitration Resolution Services (ARS) makes the arbitration process even more efficient by fully automating arbitration so parties can resolve disputes at their convenience. ARS offers proprietary cloud-based software, Arb-IT™, which integrates technology with expert alternative dispute resolution services. Arb-IT™ allows users to upload evidence from virtually any computer, tablet or mobile device while allowing for hearings to be scheduled at the convenience of each party. Arbitration with ARS allows disputes to be solved from the comforts of your home or office, allowing you to go about your regular routine with minimal disruption. To learn more about ARS and arbitration, visit our website or call 1-888-934-1777 today.