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Arbitration

    Arbitration Editor's Picks

    • How to Choose a Lawyer

      Just because someone hangs a license on the wall to practice law, they may not necessarily be the right attorney for matters that apply to you. It is well worth your time to do some investigating and querying before you select a lawyer to represent your interests. Most attorneys value their reputations and will be honest about what... more »

    • What is Debt Arbitration?

      Debt arbitration is a third-party intervention that brings debtors and and creditors together in order to reach a debt settlement. Generally debt arbitrators represent debtors to settle unsecured debt. Debt arbitration can set a debt management or debt settlement plan. Debt arbitration is not the same as credit counseling. more »

    • How Does Arbitration Work in Insurance Settlements?

      It's not uncommon for a policyholder to disagree with his auto insurance company on the damages of a vehicle or injury. As a matter of fact, in regards to liability, two opposing auto insurance companies often don't agree either. For this reason, procedures are in place that allow an non-partial third party to step in and negotiate a... more »

    • What Is Credit Card Arbitration?

      Starting in the early 2000s, credit card holders began receiving notices of changes to their credit card terms which included mandatory credit card arbitration. The industry standard for handling credit card disputes soon became mandatory credit card arbitration, which is mediated by a third party. The legality of credit card... more »

    • DC Lemon Laws

      Most people put a lot of thought into what kind of car they want when they decide they need to get a new car. It isn't uncommon for a buyer to do lots of research and ask lots of questions before finally making that big purchase. What happens when you find out that the car wasn't everything you thought it would be? If you end up... more »

    Arbitration Quick Guides

    • Credit Card Debt Help

      Credit card debt can make you feel like you are drowning. If most of your paycheck goes...

    Arbitration Articles

    Wikipedia

    Arbitration


    Arbitration, a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"), by whose decision (the "award") they agree to be bound. It is a settlement technique in which a third party reviews the case and imposes a decision that is legally binding for both sides. Other forms of ADR include mediation (a form of settlement negotiation facilitated by a neutral third party) and non-binding resolution by experts. It is more helpful, however, simply to classify arbitration as a form of binding dispute resolution, equivalent to litigation in the courts, and entirely distinct from the other forms of dispute resolution, such as negotiation, mediation, or determinations by experts, which are usually non-binding. Arbitration is most commonly used for the resolution of commercial disputes, particularly in the context of international commercial transactions. The use of arbitration is far more controversial in consumer and employment matters, where arbitration is not voluntary but is instead imposed on consumers or employees through fine-print contracts, denying individuals of their right to access the courts.

    Arbitration can be either voluntary or mandatory and can be either binding or non-binding. Non-binding arbitration is, on the surface, similar to mediation. However, the principal distinction is that whereas a mediator will try to help the parties find a middle ground on which to compromise, the (non-binding) arbitrator remains totally removed from the settlement process and will only give a determination of liability and, if appropriate, an indication of the quantum of damages payable.

    History

    It is not known exactly when formal non-judicial arbitration first began but it can be said with some certainty that arbitration, as a way of resolving disputes predates formal cou read more at » http://en.wikipedia.org/wiki/Arbitration

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