WHY ARBITRATE BUSINESS DISPUTES?
Privacy - Arbitration hearings and rewards can be strictly confidential and this preserves the parties' economic interests and business relations. In contrast, court litigation is conducted in public and, with few exceptions, anyone can attend court and search the court file. Information may be disclosed in the course of litigation that may be confidential, business-sensitive or embarrassing to the parties.
Finality - Arbitral awards are final and enforceable. Awards may be challenged, but grounds are limited, with less chance of delays and costly appeals. In contrast, rules of court can be rigid and may provide one side with the means to continue proceedings for years.
Procedural Flexibility and Speed - Parties may select the procedural rules so disputes may be resolved with less formalities, more flexibility, more quickly and more economically than court. Generally, arbitration is faster and less expensive than court proceedings.
Choice of Arbitrator - Judges come from a variety of backgrounds and have different experiences and expertise. In the court system, the parties may be assigned a judge who is unfamiliar with business or technical issues leading to unpredictable outcomes.