What are the advantages of arbitration over litigation? – Perez Mayoral

This transcription was AI generated

Transcription:

00:04

Arbitration has some advantages over litigation. Specifically, arbitration is a bit less formal of a process. And with less formality often comes a little bit less work, which means that the process generally speaking can be less expensive than litigation. So often times there

00:26

is some sort of savings that can be attributed to going through the arbitration process instead of the litigation process. In addition to that also the rules are a little bit more lenient. Thus the discovery process and the fact finding process are less formal. What that means is that there’s

00:46

more information that can be exchanged by the parties and less objectionable things that can occur during the process of an arbitration since it is essentially free flowing. So, it’s important to note what type of arbitration you’re going to be participating in and which institution

01:05

is being chosen or which company is being chosen to complete the arbitration. Many companies handle arbitration in different ways. So, it’s important to understand the rules that apply and how you can proceed.