AO3

• Advantages:

  One advantage of arbitration is that the dispute will be resolved more quickly than through a court hearing as a date for arbitration can be obtained earlier than a date for court. It is also usually a lot less expensive and cheaper than the courts and more practical to prepare for. If arbitration is done through writing, then witnesses don't have to travel and take time off from work etc. Face to face arbitration doesn't always require expert witnesses as the arbitrator who is usually an expert in the field can deal with it.
• Advantages:

  Another advantage is that it is a private process and can be confidential one and therefore no publicity. Parties rarely welcome publicity that comes with court proceedings. It also means bad feeling is more likely to be avoided between the parties. This is particularly the case with sensitive projects or where serious allegations of poor performance are being made. Therefore, it can mean relationships are preserved. For example companies can continue to do business with each other in the future
• Advantage:

  Another advantage of arbitration is that it gives parties a significant degree of autonomy and flexibility in resolving their disputes which they would not otherwise have, through litigation. This will be seen by many as a significant advantage as it allows the parties to tailor the agreed method of dispute resolution to their individual commercial and practical needs.
• Disadvantages:

  Another disadvantage of mediation is that legal aid is not available. Although the mediator is not that expensive, a party may not be able to pay for one. This means parties may not be able to resolve their dispute via this type of ADR. If the case had gone to court then a person on a low income would have qualified for legal aid and so had benefit of a lawyer to present his case.