by Melissa Dewey Brumback on February 18th, 2012
Arbitration may be a better alternative to some construction disputes, assuming that you use a qualified and skilled arbitrator or arbitration panel. Here are five benefits for using arbitration over litigation:
- Arbitration means that the decision maker is anexperienced industry professional instead of a lay jury.
- Arbitration can provide better protection for your assets by minimizing your riskof large losses sometimes seen with jury verdicts.
- Arbitration can provide flexibility in scheduling, versus court where you are told when and where to show up without much room to negotiate.
- Arbitration can put an end to your case faster. The time taken by an arbitrator is usually less than that to get a case to court to resolve a construction dispute.
- Arbitration costs can be much less when compared to the one charged during any other legal process like litigation.
These are five reasons why arbitration may be better for your construction dispute, so consider using an arbitration provision in your next construction contract.