Donald T. Ryce, Esq.
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Commercial arbitration is one method of resolving business disputes instead of relying on litigation in court. Normally the arbitration process is cheaper, because there is less discovery, less reliance on motion practice, and less formality in how the trial (or to use the arbitration term, hearing) is conducted.
Most arbitrations are decided either by a single arbitration or by a panel of three arbitrators. The arbitrator acts as both judge and jury, considers the evidence and legal argument, and renders a final decision.
Except in rare cases, parties to an arbitration must have expressly agreed to arbitrate the dispute, usually through an arbitration clause put into the overall business contract.
Mr. Ryce has conducted numerous commercial arbitrations, often serving as chairman when part of an arbitration panel.
Arbitration is a form of alternative dispute resolution is a technique for the resolution of disputes outside the courts. Arbitration can be either voluntary or mandatory. Mandatory arbitration can only come from a statute or from a contract that is voluntarily entered into, where the parties agree to hold all existing or future disputes to arbitration.
Arbitration often allows you to resolve disputes more quickly and cheaply than by going to court. Instead of judges or juries, arbitrators decide who is at fault and and how to remedy the circumstance during a private examination of the facts.
Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding. There are limited rights of review and appeal of arbitration awards.
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