Arbitration

• What is arbitration?

  Parties agree to have their dispute heard by a private arbitrator who will make a binding decision
• Advantages

  • Can be cheaper than courts
  • Decisions are binding and can be enforced by courts
  • Parties can choose their own arbitrator
  • Quicker than court proceedings
• Disadvantage

  • No state funding for arbitration
  • Professional arbitrators' fees can be high - could be as expensive as courts
  • Using professional arbitrators and lawyers might cause delays - similar to those experienced in the court system