What is the procedure for dispute resolution through arbitration?

Arbitration is an increasingly popular dispute resolution process in Delaware, as it is typically faster, more cost-effective, and more private than litigation. In arbitration, a neutral third-party arbitrator hears both sides of the dispute and makes a ruling. When parties enter into arbitration, they will agree to the process. This agreement states the rules of the arbitration and the process for selecting an arbitrator. The rules of the arbitration may vary depending on the agreement between the parties. Once the agreement is in place, a neutral third-party arbitrator is selected. The parties will typically agree upon the arbitrator, or they may allow the court to appoint an arbitrator. Next, a hearing will be scheduled. At this hearing, both parties will present evidence and testimony in order to support their case. After both sides have had the opportunity to present their cases, the arbitrator will review the evidence and make a decision. This decision is known as an “award” and is legally binding. In some cases, if either party wishes to appeal the arbitrator’s award, they may do so in court. However, this is not always possible. In the majority of cases, the arbitrator’s award is final. Arbitration in Delaware is an efficient way to resolve disputes without going to court. By entering into the arbitration agreement, both parties agree to follow the process and abide by the ruling.

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What is the procedure for dispute resolution through arbitration?

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