What is the importance of confidentiality in arbitration?
Arbitration is a popular form of dispute resolution that often entails private and confidential proceedings. Confidentiality is an important factor in arbitration proceedings as it allows parties to discuss sensitive matters without having to worry about external influences or outside parties accessing the information. Confidentiality can also allow parties to speak candidly and freely without fear of public embarrassment or reputation harm. In California, the California Code of Civil Procedure provides that all information discussed or disclosed in arbitration proceedings is confidential and shall remain private, unless both parties agree to disclose the information or for public policy reasons. This ensures that all arbitration proceedings are kept confidential and protects the parties involved in the dispute from unwanted public scrutiny and judgement. Confidentiality also allows parties to negotiate and come to a resolution that is mutually acceptable and beneficial, as opposed to a public trial where each side may feel the need to present their strongest arguments and ‘win’ the case. Having a confidential forum gives the parties a chance to come to a resolution that is equitable and suitable for both parties. In conclusion, confidentiality is an essential factor in arbitration proceedings. It allows parties to speak candidly and openly without fear that the information will be seen or heard by outsiders. Confidentiality also ensures that parties come to an equitable and mutually beneficial resolution.
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