Arbitration
At Maze Resolutions, we take pride in providing effective arbitration, an alternative dispute resolution (ADR), throughout Florida. We make sure to put a permanent end to the disputes you think are never-ending. For this purpose, we have an experienced arbitrator who respects your case by maintaining a neutral position. We make sure to follow legal obligations to eliminate the risk of penalties and maintain credibility.
What is Arbitration
Arbitration is one of the many methods used to settle disputes between two parties outside the court. It involves third-party neutral arbitrators who hear the case and make the final decision after carefully analyzing the situation. Legal rules and regulations are well taken care to abide by the law given by the state.
How it Works
The process of arbitration is free of complex requirements and obligations.
The involved parties present the evidence supporting their claim, and the arbitrator ends the hearing by making a decision in favor of any one of the sides.
Types of Arbitration
Arbitration can be categorized into two types.
Binding Arbitration
In binding arbitration, the parties forgo their right to trial and agree to respect the arbitrator’s final decision. This specific type of arbitration is more suitable for businesses who wish to resolve their internal conflicts. The arbitrator’s decision can only be challenged if it involves infringement of public policy, misconduct or fraud.
Non-binding Arbitration
Non-binding arbitration is similar to regular arbitration except the award that is placed by the arbitrator is non-binding. The results of the arbitrations do not carry any legal action, and the parties do not have to follow the results. Instead, the parties can avoid conflicts in their future. Non-binding arbitration is highly used for civil disputes or for when parties need guidance, counseling or information. The positive outcomes of non-binding arbitration can be useful towards knowledgeable important facts about the case, can save cost rather than going through court, and is in a more private setting than litigation.
Benefits of Arbitration
Arbitration comes with several benefits which makes it a feasible method of ending disputes.
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It is an inexpensive alternative for litigation
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Parties have the free will to select their own tribunal
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Disputes are settled quickly compared to the cases heard in the courts
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The process has made conflict resolution hassle-free as it does not require the parties to visit the courts
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Third-party members are neutral so the outcome is unbiased
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Cases heard in arbitral proceedings can be made confidential as they are non-public