Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBy Hon. Tiffany Vivo, Attorney at Law
Arbitration is nothing new. Its roots can be traced all the way back to ancient times with King Solomon, who was one of the earliest arbitrators. Arbitration was also used by the early Greeks to settle disputes relating to commercial, land and employment.
What is arbitration? Arbitration is a means of resolving legal disputes outside of court. Parties who utilize arbitration refer their disputes to an arbitrator — a neutral third party, usually an attorney, retired/former judge or field expert — tasked with hearing and reviewing evidence and rendering a decision. Arbitration is not a formal process like appearing before a judge in court, but it is more formal than attending mediation. Arbitration comes up when there is an “arbitration clause” in a contract or the parties later agree to it.
There are many benefits to arbitration. Arbitration allows the parties to resolve their disputes more efficiently. The parties have the ability to structure the arbitration process. Parties who use arbitration have the ability to agree upon an arbitrator, formulate rules and procedures that govern arbitration, and schedule arbitration that is most convenient for them and the arbitrator. Arbitration also allows the parties the flexibility to tailor the issues to be arbitrated such as by focusing on specific issues versus having the entire case decided. Arbitration is especially helpful in situations when there is an immediate need to have a matter or issue resolved and there is a backlog in the court’s calendar, delaying resolution. Arbitration also allows parties to avoid the costly outcomes associated with litigation.
If you are interested in becoming an arbitrator and learning more, the IndyBar’s Alternative Dispute Resolution Committee is hosting an arbitration training. Introduction to Arbitration will take place from 9 a.m. to noon on Dec. 15, at IndyBar HQ, 140 N. Illinois St. The program is a precursor to more advanced arbitration training and will introduce participants to arbitration and the rules governing arbitration, the learning requirements to become an arbitrator, the differences between arbitration and mediation, and the benefits of choosing arbitration over mediation. The program has been approved for 3 CME credits and 3 general credits. You can register at indybar.org/events.•
Please enable JavaScript to view this content.