What do I need to know about arbitration before I enter into it?
The key thing to understand before entering into arbitration in Virginia is that it is a form of alternative dispute resolution (ADR). This means that instead of a traditional court proceeding, arbitration is conducted privately and usually results in a binding agreement between the parties involved. When it comes to arbitration in Virginia, it is important to know that the state follows the Uniform Arbitration Act which sets out the specific rules and procedures to be followed. It is also important to understand that the arbitrator or “neutral” that presides over the case is usually chosen by the parties involved. This arbitrator will make the final decision in the dispute and their decision is typically binding. In Virginia, arbitration proceedings are confidential, meaning that no information about the dispute is allowed to be disclosed to the public. Additionally, in some cases, it can be less expensive than taking a case to court. However, it is important to remember that arbitration decisions are not subject to appeal and are binding on the parties involved. Before entering into arbitration in Virginia, it is important to consult an attorney to ensure you fully understand the process and are aware of your legal rights and obligations. An attorney can also provide valuable advice on how to best present your case to an arbitrator.
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