When it comes to resolving a dispute, selecting the right arbitrator is essential. Good judgment, legal acumen, and an appropriate judicial temperament are all key factors in choosing an arbitrator. It is also beneficial to select someone with “specific subject matter experience” related to the dispute. Parties to an arbitration have more control over the process than in a court, as they can choose who their arbitrators will be and whether there will be a single arbitrator or a panel. When selecting an arbitrator, it is important to consider if they have the time and attention to devote to the dispute.
Arbitration is confidential and documents presented in arbitration are not publicly available, unlike court-related files. Additionally, arbitration tends to be more efficient than filing a lawsuit in court. To ensure that the arbitral process is administered efficiently and cost-effectively, parties must choose a strong arbitrator capable of managing both individuals and the process. The arbitration processing time can vary depending on several factors such as the number of parties and witnesses involved, the complexity of the issues, the volume of evidence, and the timelines of the parties and arbitrators.