Question

What advantages and disadvantages exist for using a panel of arbitrators?

Answer 1

Ans) Arbitration can offer several advantages as an alternative to litigation: Flexibility – The form and type of arbitration can be tailored to suit the parties. Speed – The process can be started and resolved quickly, without waiting for court dates. Discoveries and preliminary processes are kept to a minimum.

- One drawback to the process is the lack of a formal evidence process. This lack means you are relying on the skill and experience of the arbitrator to sort out the evidence, rather than a judge or jury. No interrogatories or depositions are taken, and no discovery process is included in arbitration.