How much does an arbitration process usually cost?
The cost of an arbitration process varies depending on the complexity and length of the case. Generally, filing a claim with the Delaware Arbitration Board costs $200. After a claim is filed, the arbitrator will review the evidence and make rulings on a number of issues such as discovery process, motions, hearings, and other proceedings. Depending on the specifics of the case, parties may be required to pay for their own attorneys, court reporters, copying costs and related expenses. In addition, the arbitrator will typically charge a fee for their services. This fee is usually split evenly between the parties and can range from $100 per hour to thousands of dollars. It is important to note that the Delaware Arbitration Board does not provide legal advice and should not be consulted for financial advice. Before making any decisions about the cost of arbitration, it is best to consult an experienced attorney. An attorney will be able to help you determine the costs associated with filing a claim, as well as the costs of other proceedings in your case. In most cases, arbitration is a less expensive way to resolve disputes than going to court, however, it is important to consider the costs of both when deciding the best route for your case.
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