What is arbitration?

Arbitration is a type of alternative dispute resolution (ADR) law in which two or more parties agree to submit their dispute to a neutral third-party, known as an arbitrator, for a binding and final decision. Arbitration is typically less expensive and more efficient than using the court system. The arbitration process begins when the two parties agree to use arbitration to settle a dispute. Once they have agreed to use arbitration, the parties select an arbitrator. The arbitrator will listen to evidence and arguments presented by both sides, and will then make a decision on the matter that is binding and final. In Florida, arbitration agreements are governed by the Florida Arbitration Code. Under the code, arbitration can be voluntary or mandatory. Voluntary arbitration means the parties agree to arbitrate their dispute without a court order. Mandatory arbitration is when a court orders the two parties to resolve their dispute through arbitration. Arbitration is an attractive option for resolving a dispute because it is often a quicker and less expensive process than going to court. The arbitration process is confidential, so it can help protect relationships, and the results are binding, so both parties are bound to the decision and cannot appeal it.

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What is arbitration?

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