Is Arbitration All It's Cracked Up To Be?

In the late 1980s, early 1990s, alternative dispute resolution came on the scene and was all the rage as a means to effectively and quickly resolve disputes on construction projects at a lower cost than litigation. Now, many years later, the tide has turned and many people are reexamining the issue.

Since mediation is a voluntary process in which the parties attempt to resolve their dispute without a finding of culpability or liability before proceeding to arbitration or litigation, it tends to be viewed as a worthwhile endeavor. Many people like mediation this way because the costs incurred in spending a day or so in mediation are far less than the costs of arbitration or litigation. Arbitration appears to be the bone of contention. Is it good, bad, less expensive, timely, and why should you consider it?

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