Dispute arbitration in Chicago Illinois is a non-adversarial, out-of-court procedure where disputing parties agree to allow a third-party arbitrator to make a decision on the disputed matter rather than a judge. Nowadays it is quite common for retailers, credit card companies, and a variety of other types of businesses to include mandatory arbitration clauses in their contracts. However, regardless of whether or not the arbitration process is mandated by contract, it just may be worth it for you to consider dispute arbitration in Chicago Illinois to resolve your legal claim.
So why would anyone choose arbitration rather than head straight to the court room? Arbitration is typically a less time consuming and less costly method of resolving disputes when compared to the litigation process which can sometimes drag on for years. Additionally, the rules of evidence and procedure in arbitration proceedings are more flexible than in a court of law. This means that disputing parties who choose to arbitrate can more easily represent themselves without having to hire their own attorneys, unless they choose to.
The procedure for how an arbitration hearing will be conducted is determined by the parties themselves, who can also decide whether they want the arbitration decision to be binding or non-binding. If the parties choose non-binding arbitration, they do not have to abide by the arbitrator’s decision and can still choose to proceed with a lawsuit if they wish. Binding arbitration means that either party may enforce the final arbitration decision in a court of law.