Arbitration is a great alternative to the court system for litigants who are not able to resolve their conflicts by agreement. As arbitrators, we provide an expedited proceeding during which we hear all the evidence and testimony with which to make a final decision resolving all disputes. Arbitration is the most traditional form of private dispute resolution. Unlike mediation, arbitration is adjudicatory. This means that the arbitrator renders a decision at the end of the hearing. Usually, this decision, called an Arbitration Award, is submitted within 30 days of the hearing, and is typically legally binding, subject only to a very limited court review.
The arbitrator is an impartial individual chosen by the involved parties. During the arbitration process, he or she will read briefs and documentary evidence, hear testimony, and examine evidence before rendering a decision.
When you come to Potts, Shoemaker & Grossman, LLC you can count on us to act as a neutral third-party and facilitate a solution that is acceptable for both parties. We provide all the same benefits as the court system, without the hassle of multiple court appearances, lengthy litigation, or high fees.
Benefits of Arbitration:
- The Arbitrator may have specific expertise in the area involved in the dispute, such as business valuation, taxes or real estate.
- The parties enjoy a private, confidential and less formal setting than a trial which can be intimidating and emotionally stressful.
- The parties and counsel pick the date and time of the proceedings.
- The Arbitration hearing is much faster and more time-efficient than formal, trial proceedings which are prolonged by the technicalities of admitting exhibits, certifying experts and meeting the needs of a court stenographer. For example what would take three days at trial, may be completed in only one day in an Arbitration setting.
- Efficiency results in significant cost savings.