What is the difference between an arbitration hearing and a regular court hearing?

An arbitration hearing and a regular court hearing have some similarities, but also some key differences. In both cases, two parties come before a third party, also known as a tribunal, to resolve a dispute. This tribunal will have the authority to make a legally binding decision. In a regular court hearing, the tribunal is a judge, who is trained in the law and is often employed by the government. The parties will typically present their cases through attorneys, and the judge will make a decision based on facts, argument and the law. The judge’s decision may be appealed. The proceedings are public and open to the public. In an arbitration hearing, the tribunal is typically made up of a panel of arbitrators who are not employed by the government. The proceedings are private and the panel will base their decision on the facts presented by the parties, as well as on the rules of arbitration. The arbitration process typically focuses more on the settlement of the dispute rather than on punishing the offending party. Decisions made in arbitration are usually final and binding and cannot be appealed. In the State of Tennessee, securities arbitration is an increasingly popular method of resolving debate between firms and their clients. The state has specific laws that govern securities arbitration hearings, and these hearings tend to be more streamlined and less formal than traditional court proceedings.

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What is the difference between an arbitration hearing and a regular court hearing?

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