A 4-Pointer Guide to Choosing the Right Arbitrator
Arbitration is an alternative way to resolving disputes. It is often considered fast, cheaper and flexible vis-a-vis a litigation process. For this reason, the service offered by litigators is a high demand, leading to an upsurge in the number of entrants in the field.
These make choosing the right arbitrator a herculean task for some. Here are the key factors you should consider when selecting an arbitrator, according to Littleton Alternative Dispute Resolution, Inc.:
When choosing whom to preside over your arbitration proceeding, you need one who is well versed in the subject matter of the dispute. They should also have a clear understanding of the law and statutes governing the area of the conflict. This way, they will be in a position to guide as well advise you on what the law states.
An effective arbitrator is one who is a disinterested third party, one who is not an advocate of either side even if they are the ones who appointed them. They should remain independent throughout the process, and they should not have a conflict of interest in any matter relevant to the dispute.
The parties should consider the availability and the flexibility of a prospective arbitrator. Avoid choosing an arbitrator who is overbooked, or cannot fit you into their schedule. Remember: one of the benefits you are supposed to enjoy through an arbitration process is convenience and speed. If the arbitrator is not available at the appropriate times, further delays and costs may be incurred.
Apart from the expertise, the arbitrator should also have the relevant experience needed to have a successful process. They should have practiced their profession for several years and shown consistent results over the years. Also, this is where you check on their reputation and the respect they command in the field. Can they be able to make difficult decisions and remain fair? How satisfied are their former clients? The answers you get will help you know what to expect.
Choosing the right arbitrator is critical to your dispute resolution. This guide will help you identify and choose the right arbitrator.