It has become common practice to include arbitration clauses in commercial agreements as a form of dispute resolution but is arbitration best suited for you? There are a number of factors to consider when choosing whether to litigate or arbitrate.
1. What is the form of the dispute, is it commercial in nature or otherwise. Most times arbitration are best suited for commercial disputes.
2. Can parties afford to pay the Arbitrator?
3. Will parties dispute the award?
4. Will arbitration save cost?
5. Will it maintain the business relationships between the parties?
6. Is time of the essence?
7. Does the agreement contain an Arbitration clause?
All these and much more will determine the suitability of your dispute for arbitration or litigation.
Do you have any questions on Arbitration, pls ask in the comment section or send a DM.
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