What is the procedure for resolving commercial disputes?

In Oklahoma, the procedure for resolving commercial disputes typically starts with the parties attempting to negotiate a solution themselves. If that isn’t successful, parties can bring their dispute to arbitration or hire a lawyer to represent them in court. In arbitration, each party presents its side of the dispute to a neutral, third-party arbitrator, and the arbitrator then decides the outcome. This method of dispute resolution is faster and less expensive than going to court and does not require a trial. If the parties decide to bring their dispute to court, they must first file a complaint in the appropriate court. The person who files the complaint is the plaintiff, and the person being sued is the defendant. Once a complaint is filed, the defendant has to respond. The parties can then attempt to work out a settlement on their own or they can go to trial. In a trial, the judge or jury listens to evidence presented by each side and then renders a verdict. In Oklahoma, there are other methods of resolving commercial disputes such as dispute resolution boards, specialty courts, and mediation. In all of these methods, parties work together to reach a mutually acceptable resolution to their dispute. Although the resolution is not legally binding, it can help the parties reach a satisfactory outcome that is less costly and time-consuming than a court hearing.

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What is the procedure for resolving commercial disputes?

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