How does an arbitration process work?

An arbitration process is a legal procedure in which two or more parties resolve their dispute outside of court. In South Carolina, arbitration is governed by the South Carolina Arbitration Act. In an arbitration process, each party submits evidence and arguments to an arbitrator. An arbitrator is a neutral third-party who is chosen by both parties or a court. The arbitrator is responsible for listening to both sides and deciding the outcome of the dispute. The parties may choose to present their cases in person, or submit written briefs to the arbitrator. The arbitrator may also consider other evidence, such as witness testimony or expert opinions. After considering all of the evidence, the arbitrator will make a decision. The decision of the arbitrator is usually binding, meaning that the decision must be accepted by both parties. However, the parties may also agree to enter into non-binding arbitration. In such a case, the parties are not legally obligated to accept the arbitrator’s decision. The process of arbitration is generally much faster than going to court. It is also more cost-effective, as arbitration fees are often much lower than those associated with litigation. Additionally, arbitration is typically less formal than a court proceeding, and parties can dispute their case without the stress of a trial.

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How does an arbitration process work?

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