OVERVIEW OF BENEFITS FROM ARBITRATION

Arbitration is a desirable alternative when a definitive outcome is needed within a specified time to resolve telecommunications, antitrust and other commercial disputes, or when mediation is not pursued or wholly successful. Arbitration has several key advantages:

Certainty of decision - arbitration is superior to mediation when uncertainty is unacceptable and a decision is needed - one way or the other - on a critical issue or dispute.

Certainty of timing - arbitration can ensure that a definitive decision will be rendered within the timeframe established by the parties, which is not true for mediation or litigation.

Binding outcome - the parties can agree that the arbitration decision will be final and conclusive.

Choice of Neutral - the ability of the parties to chose arbitrators with expertise and good judgment greatly increases the likelihood of a reasonable outcome, in contrast with the random selection of judges and jurors.

Confidential - arbitration is generally private and confidential, unlike litigation.

Saves time and money - arbitration is often notably quicker and less expensive than litigation, although generally not as expeditious or inexpensive as mediation.

Efficient decision-making - although lacking some of the benefits of mediation, arbitration is an effective and desirable means of reaching reasonable decisions when uncertainty must be resolved or when having a final decision by a certain point is critical.