What is the difference between arbitration and litigation?

Arbitration and litigation are two methods of resolving disputes. Arbitration is a process where both parties agree to use a neutral third party, called an arbitrator, to decide the outcome of the dispute. Litigation is a process that parties use to resolve their dispute through a court and a judge. The major difference between arbitration and litigation is how the dispute is resolved. With arbitration, the decision is made by the arbitrator, who can ask for evidence from the parties, listen to their arguments, and reach a decision. The decision made by the arbitrator is binding and is typically easier, quicker, and less costly than litigation. In litigation, the dispute is resolved by a judge and jury in a public court setting. The parties present evidence, have witnesses testify, and the judge and jury make a decision on the dispute. The decision is typically less binding than an arbitration decision. Additionally, litigation is typically more costly, takes longer, and can be more complex than arbitration. Overall, arbitration and litigation are two ways to resolve disputes. While the outcome is similar, there are differences between the two. The main difference is how the decision is made. Arbitration is made by a third-party arbitrator, while litigation is decided by a judge and jury in a court setting. Additionally, the costs, time, and complexity vary between the two methods.

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What is the difference between arbitration and litigation?

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