– timely legal decisions based upon the law
Arbitration is an alternative dispute resolution process in which the parties agree to submit their dispute to a neutral third party whom they have selected to make either a binding or non-binding decision to resolve their dispute.
An arbitration hearing is conducted in a manner similar to a short trial, with each side presenting their case which may include witnesses and attorney representation.
Arbitration is not bound by all rules of procedure. Unless the parties' contract specifies otherwise, arbitrations are conducted in accordance with the NC Revised Uniform Arbitration Act.
At the conclusion of each side’s presentation, the arbitrator renders a decision, called an award, which is usually available within ten business days from the close of the hearing.
In non-binding arbitration, the award may be viewed as advisory, with each side using the award to begin negotiation again or for moving on to some other legal process for resolution. In binding arbitration, the arbitrator's award is filed with the court and has the same effect as a court order in binding the parties to the terms of the award.
Arbitration is a feature of many contracts, including the purchase of consumer goods, employment contracts, and business contracts.
Disputants in family matters, such as divorce and estates, and other private enterprises also have found arbitration to be an appropriate resolution method for their situation.
Binding arbitration awards are final and not subject to appeal by either party
How Arbitration Works
Typically, the arbitrator will call for a pre-hearing conference where rules of the process, a timeline for completion of certain tasks, and the date of the arbitration hearing are established.
At the arbitration hearing, each side makes a brief opening statement before presenting their case. Case presentation may include exhibits, witnesses, or expert testimony. At the conclusion of the presentations, the arbitrator may allow each side to make brief closing statements before concluding the hearing.
Depending on the nature of the dispute and its complexity, an award may be rendered immediately or it may be several days before the arbitrator renders the award.
A matter may come to arbitration:
Setting Up Arbitration