What is the procedure for dispute resolution through arbitration?

In Oklahoma, dispute resolution through arbitration is a process to settle disagreements or legal disputes between parties without having to go to court. This process is usually set up by contract or mutual agreement and should result in a binding decision for all parties involved. The process begins with a voluntary agreement by all parties to use arbitration as a means to resolve the dispute. The parties may then choose to use an independent third-party arbitrator to hear the case and reach a decision. If an arbitrator is not chosen, both parties may decide to use a representative that they have chosen. Once the arbitrator has been decided, both sides present their case with relevant evidence. The arbitrator will make a binding decision and the parties must accept and adhere to the decision. The decision is legally binding and has the force of law, which means it must be respected in court. Regardless of the outcome, arbitration is often seen as a mutually beneficial way to resolve disputes as it can take less time, cost less than a trial, and, while confidential, is more likely to lead to a resolution that both parties find satisfactory.

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What is the procedure for dispute resolution through arbitration?

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