Reporters: 10 Mistakes that Most People Make

Advantages of Having an Arbitration Attorney In order to address overcrowding in the courts, lawyers and judges recommend arbitration as a viable option to mediation or litigation. An arbitration case can be a viable option and can be more successful if the case is straightforward and both parties are willing to talk things out. Arbitration hearing are not presided over by a judge but b a panel composed of one to three arbitrators chosen by both sides. Before listening to the arguments, the panel of arbitrators first reads the pleadings that were filed by the plaintiff and the defendant. Documents from both sides and be submitted and testimonies given. Although arbitration is somewhat similar to similar trial, it is less formal. Witnesses are not subject to perjury laws and related offenses in arbitration, and this is because here they do not have to swear an oath. If you have an arbitration case, you benefit because it is more expeditious than traditional trials. if your case is delayed and appealed, your traditional trial can languish in court for years. From the time the initial claim is filed until the panel renders a decision, the average case takes a little over a year. The award issued by the panel is binding on all parties.
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The arbitration process is fast and this benefits the plaintiff. This results in much smaller legal fees. Since the decision of the panel is confidential, company cases are not known by the public, and this is an advantage to the defendant.
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Because the ruling or award of the panel is final there is no room for appeals and is quite a disadvantage. Fees are charged according to the size of the award and the number of hearings required to reach the decisions. Your case is eligible for arbitration if you are an investor and you have a case against a person or entity that is with the Financial Industry Regulatory Authority. Arbitration can also be used to settle disputes that involve businesses. In most cases, the dispute is between an individual and his investor or brokerage house. And the reason why they choose arbitration is because most investment firms insist that their new clients settle any dispute they might have with them in arbitration, rather than in courts. This clause is almost always present in contracts between investors and investors. This process is not necessarily less expensive for investment firms, but they prefer it because it helps them avoid bad press. It is not recommended that people represent themselves in arbitration hearing despite it being possible. This is because you will be pitted against a company that will have an experienced attorney who knows the process on their side. So, before filing your case you should start looking for a securities arbitration attorney to help you with your case.

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