What is arbitration law?
Arbitration law is a type of alternative dispute resolution (ADR) which is used instead of court proceedings. It is a process in which parties agree to settle a dispute with the help of an independent third party, called an arbitrator. The arbitrator reviews evidence and testimony from both parties and makes a decision about how to resolve the dispute. In Ohio, arbitration law is governed by the Chapter 2711 of the Ohio Revised Code. This law states that an arbitration agreement must be in writing and must clearly explain the rights and obligations of each party. The agreement must also specify the extent and scope of the arbitration. The parties must also agree on who the arbitrator will be and must follow the Ohio Rules of Civil Procedure. Arbitration allows parties to move the dispute resolution process outside of the court system so that the parties can come to a resolution more quickly, with more flexibility, and with less cost than a court proceedings.
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