Arbitration versus Litigation
Any two parties in a business relationship should strive for peaceful dispute resolution and deterring their escalation. When a commercial contract is involved, there are typically two formal dispute resolution options: litigation or arbitration. Here is a brief guide than can help you choose between arbitration and litigation. Arbitration Arbitration is, in layman’s terms, the decision of an impartial third party to settle a dispute between two commercial parties outside of court. From the outside, arbitration may appear to be the less dramatic cousin of litigation. There is no courtroom, jury, or judge. However, arbitration is frequently the preferred option …
