What factors should I consider when selecting an arbitration forum?
When selecting an arbitration forum in Kansas, there are a few factors one should consider. First, parties should consider the cost of arbitration. Arbitration can be expensive, as there are filing fees, administrative fees, and arbitrator’s fees. The fees associated with arbitration vary among different forums, so it is important to compare the cost of different forums and weigh the cost in comparison to the potential benefit. Second, parties should consider the parties’ familiarity with the forum. If the parties are familiar with the arbitration rules of a particular forum, then that may be the right one to use. On the other hand, if the parties have no experience with that forum, they may want to consider a more familiar forum. Third, parties should consider the speed of the arbitration process. Different forums have different timelines for when the arbitration process must be completed. This is important to consider, as some forums may be faster or slower than others. Fourth, parties should consider the fairness of the arbitration process. It is important to know that the process will be fair to both parties, so they should look into the quality of the arbitrator, the rules of the arbitration, and the code of conduct of the forum. Finally, parties should consider the enforceability of the award. The award may be subject to different levels of review by different courts, so parties should look into the enforceability of the award from the forum they are considering. By taking each of these factors into consideration, parties can select the arbitration forum that is best suited to their specific situation.
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