What is arbitration?

Arbitration is a form of alternative dispute resolution (ADR) in which two parties agree to resolve a dispute outside of the court system. This is done through the appointment of an impartial third-party, referred to as the arbitrator, who then listens to both parties’ arguments and makes a final and binding decision on the matter. It is a less formal process than going to court, and the parties involved have more control over the outcome of the dispute. This includes deciding on the rules of evidence, which witnesses and documents can be used, and even the hours of hearing. In Arkansas, binding arbitration must follow the rules outlined in the Arkansas Uniform Arbitration Act. This requires that two parties enter into an agreement and explicitly state that the dispute should be settled through arbitration. The parties may also agree to have their case heard using the rules of a professional organization such as the American Arbitration Association (AAA). The arbitrator is typically a lawyer or someone with specialized knowledge in the subject matter. He or she will typically review the issues and evidence presented by both parties, hear arguments, and make a decision based on the facts and arguments of the case. Once the arbitration hearing is complete, the decision is final and cannot be appealed. Overall, arbitration allows parties to resolve disputes quickly and in a more cost-effective manner, as it eliminates the need for costly and time-consuming court proceedings. It is an important form of alternative dispute resolution in Arkansas and in many other states.

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What is arbitration?

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