A lot of companies have employees and contractors sign arbitration clauses so that in the event of a dispute, the matter is not handled in the courts. Arbitration is a form of private dispute resolution, which provides parties to a controversy with a choice other than litigation. Arbitration can be voluntary or mandatory. There are a number of things you should consider before drafting (or signing) documents with mandatory arbitration clauses.
Depending upon the amount of the dispute, arbitration may not be the most economically feasible. A number of attorneys used to consider the arbitration process less expensive than litigation, but this is not necessarily the case. That said, there are a number of compelling reasons why arbitration may be more attractive to you other than financial costs. These include but are not limited to: shorter timeline to resolution, confidentiality, and generally no appeal rights. Contact C&G today to vet your options!
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