What is the procedure for dispute resolution through arbitration?

In New Jersey, parties can resolve legal disputes through the process of arbitration. The process of arbitration begins when the two parties agree to arbitrate before any dispute has arisen. This agreement creates a binding contract between the two parties, which is created either through a contract or a clause in an existing contract. Once the arbitration agreement has been established, both of the parties must submit their evidence, documents, and witness testimony to an arbitration panel. The arbitration panel is a group of individuals that is appointed by one of the parties or by a third-party organization. This group of individuals, known as arbitrators, weighs the evidence and listens to both sides of the dispute and makes a decision and an award, which is legally binding on both parties. The award of the arbitration process is generally made within a month of the dispute’s submission. After the award is made, either party may appeal the decision in court, if they so choose. The appealing party must prove that the decision was legally flawed in order for it to be overturned. Once the award is made, however, the parties must abide by its terms. If one of the parties fails to comply with the award, the other party has the right to take them to court and enforce the award. This is how disputes are typically resolved through arbitration in New Jersey.

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What is the procedure for dispute resolution through arbitration?

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