No matter what side you’re on in a legal dispute, the thought of going to court to fight your case can be extremely stressful. You may not want to withdraw the case, but the legal fees and time can be quite the burden. However, there are non-court routes you can take. These are the reasons…
Arbitration has been a popular method to find a remedy for business disputes for centuries. And in recent times, the number of individuals that have shown a preference for arbitration over traditional court proceedings has been on the rise. A major difference that exists between arbitration and litigation is that parties to an arbitration hearing…
I have my own take on arbitration but that makes me a little one sided as I see both the good and bad of the process. I’m very interested in what you have to say and see where a meeting of the minds may originate. First thing to consider is: When is arbitration considered forced…
by Dr. Justin Wood, Th.D., CJME Early Neutral Evaluation (ENE) is a form of alternative dispute resolution with in the scope of but less formal than, arbitration where one or both sides in a dispute seek the opinion of neutral third party to evaluate their case. ENE is typically an informal conference held early…
By Dr. Justin Wood, Th.d., CJME This is a blog post of a letter I write FINRA in response to their questions asking advise on the proposed elimination of non-attorney representatives in arbitration. I would like to comment on NAR (non-attorney representative) firms, individuals or others that participate in arbitration. ADR (alternative dispute resolution) was…
By: Dr. Justin Wood, Th.d, CJME Yes, mediation and arbitration are different. While they are both forms of alternative dispute resolution and share the same goal of resolving your case outside of the litigation process, there is one very significant difference. A mediator does not have the authority to make a decision and rarely will…
By: Dr. Justin Wood, Th.d, CJME Whether an arbitration decision is binding on the parties depends on the terms of their arbitration agreement. Generally, arbitration results are binding arbitration awards unless the parties agree to advisory, or nonbinding, arbitration. If the agreement says “arbitration” without any modifier, then the arbitration decision is likely binding. In…
By: Dr. Justin Wood, Th.d, CJME Yes, mediation and arbitration can be combined. There are some benefits, but it can be tricky and may not always be advisable. A hybrid mediation-arbitration approach called “med-arb” combines the benefits of both techniques. Conflicting parties first attempt to collaborate on an agreement with the help of a mediator….
By Sylvan Lane, The Hill “Acting Comptroller of the Currency Keith Noreika said Monday his agency wouldn’t formally seek the repeal of the Consumer Financial Protection Bureau’s (CFPB) forced arbitration rule, citing a lack of time to analyze its impact. Noreika, temporary head of the Office of the Comptroller of the Currency (OCC), said the OCC…