For every careful driver on the road, or careful person in the work or public place, there is another person who is not entirely bothered by things like their duty of care to others and act in a careless fashion. Most times, when this accident eventually happens due to imprudent and careless behavior, it results in injury to one or more parties. It is for this reason that we have personal injury lawyers, to make sure that people going about their business who get injured as a result of the negligent act of another, get their full compensation without fail.
Whenever these accidents and the resulting injuries happen, the major way in which they are handled is through the use of lawsuits made by one party to the other and taken before a court of law. That being the case, however, in this day and age, there are several factors for which a person may be unable or simply not want to file a civil lawsuit. These factors include things such as delay of the judicial process, congestion in the various courts, the cost of handling the lawsuit as well as other things such as the mental effect litigation may have on the person or people involved, to name a few.
In order to accommodate these situations, it has become possible to make available, other means by which these cases can be resolved. ADR, which stands for Alternative Dispute Resolution, refers to the various alternative means by which these accident cases are handled, and one of these means is through the use of a technique known as Arbitration, which is the most commonly implemented alternative method. If you happen to have a case that would ordinarily be settled by a lawsuit, but for whatever reason, have decided to handle it using the ADR method of Arbitration, then it is important for you to know what exactly it is you are doing, especially as it relates to the case you hope to resolve.
THE ADVANTAGES OF ARBITRATION
This alternative means of resolving disputes is the most formal means out of all the others. In the process of arbitration, the parties involved in the case, present the aforementioned case before a third party who is neutral to the case, and that third party is then required to make a decision. This method has been used to handle issues arising in both public as well as private sectors of the state.
This process is rather flexible and is much quicker than the court process. Also, less money is spent when the case is handled using the method of Arbitration. The arbitrator i.e. the neutral third party is usually selected by the parties involved and furthermore, those parties are allowed to dictate what happens, relating to some aspects involved in the arbitration process. Another good thing about Arbitration is that, more often than not, the Arbitrator is someone who has better knowledge and understanding of the particular subject involved in the case, than an ordinary judge would. Furthermore, they may be more flexible in their eventual judgement than a court judge.