What are the differences between arbitration and other forms of dispute resolution?
Arbitration is an alternative form of dispute resolution, which is different than other methods of dispute resolution such as litigation, mediation and negotiation. Unlike litigation, arbitration is a more informal process. Instead of taking place in a courtroom, arbitration typically takes place in an office or neutral location. The parties decide who will be the arbitrator and the case is presented in a less formal setting. After the arbitration hearing is finished, the arbitrator will make a binding decision, which can be enforced by the court. Unlike mediation, arbitration is not voluntary. The parties will have to agree to the arbitration process before it can take place, and they will not be able to withdraw during the process. In mediation, the parties can stop the process at any time and the mediator will not make a binding decision. Unlike negotiation, arbitration is binding. The arbitrator will make a decision that the parties must abide by, while in negotiation the parties can decide on their own resolution. In North Carolina, the rules of arbitration are governed by the North Carolina Arbitration Act. This act provides guidelines for the arbitration process and sets out certain rights and responsibilities for both the parties and the arbitrator. This helps make the arbitration process reliable and effective.
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