What are the differences between arbitration and other forms of dispute resolution?

Arbitration is a form of dispute resolution that involves an objective third party or panel of individuals to hear arguments and decide the outcome of a dispute. This is different from other forms of dispute resolution, such as mediation, which involves a mediator who helps the parties reach their own agreement, or litigation, which is a court process in which a judge or jury hears the case and decides the outcome. In arbitration, the parties select an arbitrator or panel of arbitrators who will hear the evidence and make a decision on the case. This decision is considered a binding decision, meaning that the parties have agreed to abide by whatever the arbitrator decides. This type of dispute resolution is beneficial as it can be cheaper and faster than litigation, as well as more private. In comparison, other forms of dispute resolution are often less formal and less structured. Mediation is an informal process in which a mediator works with both parties to help them reach an agreement without a third party deciding the outcome. Litigation is a more formal court process in which a judge or jury decides the outcome of the dispute. Regardless of the type of dispute resolution used, it is important to remember that the outcome should be fair to both parties. Washington law mandates that all arbitration proceedings be conducted in accordance with the Uniform Arbitration Act and the Arbitration Rules of the American Arbitration Association.

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What are the differences between arbitration and other forms of dispute resolution?

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