Washington Business Daily

Arbitration is the best and civilised mode of dispute resolution, is it not ?

In arbitration there is no corruption, it is less expensive and less time consuming.

Public Comments

1. Not necessarily. But I'll let you do your own homework.
2. Perhaps....if both parties are knowledgeable and informed and agree beforehand, it can be a great alternative. If binding arbitration is demanded by the more sophisticated party (credit card company, insurance company, etc.) on a take it or leave it basis, it can deprive the little guy of their right to access to the judicial system. Class action suits and huge damage awards are a huge deterrent to behaving badly. Demanding confidentitality in arbitration determinations allows bad behavior to continue unabated.
3. No, not at all. You are misconstrued on the position of law. The best way of dispute resolution is, Compromise, Settlement, Conciliation through mediation, with provisions of, no further dispute raising, over the same matter.
4. if arbitrator is natural and bonafide but in cases of finance company they prefer their pick and choose arbitrator and ultimately borrower suffered much more.