What are the advantages and disadvantages of arbitration over litigation?

Arbitration and litigation both involve resolving legal disputes outside of court, but they do so in different ways. Litigation is a formal process, conducted in a court of law, with a judge or jury making a decision on a dispute. Arbitration is a less formal process, usually conducted in private and often with an arbitrator or panel of arbitrators making a decision on the dispute. The main advantage of arbitration over litigation is that it is a much faster process. Since arbitration is less formal, the parties don’t need to go through the laborious process of collecting evidence and witnesses. This means that the arbitration can usually be completed in a much shorter amount of time than a lawsuit and can be done at a fraction of the cost. One of the major disadvantages of arbitration is that the parties must abide by the decision of the arbitrator and there is no right of appeal. Unlike with a lawsuit, where parties can appeal decisions, in arbitration, the decision of the arbitrator is final and binding. This can leave one party feeling as if they did not get a fair trial if they disagree with the decision. Another disadvantage of arbitration over litigation is that it is confidential and non-public. While this is often an advantage because it allows parties to keep the dispute private, this also means that parties cannot use the media or public opinion to sway the decision. Additionally, there are no official records of the arbitration proceedings, which can make it difficult to prove a case if it needs to be revisited in the future. Overall, arbitration and litigation both have their advantages and disadvantages for resolving legal disputes in West Virginia. While arbitration is generally faster and less expensive, the lack of appeal rights and public record can leave parties feeling as if they did not get a fair outcome.

What are the advantages and disadvantages of arbitration over litigation?

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