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Benefits of Hiring an Arbitration Attorney Arbitration is a viable alternative to mediation or litigation as recommended by judges and lawyers in order to avoid overcrowding in the courts. An arbitration case can be a viable option and can be more successful if the case is straightforward and both parties are willing to talk things out. There are no judges in arbitration hearings but simply a panel composed of one to three arbitrators who are chosen by both sides. Before the arbitrators listen to any arguments, the panel peruses the pleadings that were filed by the plaintiff and defendant. Attorneys for both sides can submit documents and a testimony can be given. This process is similar to a traditional trial but it is far less formal. Witnesses are not subject to perjury laws and related offenses in arbitration, and this is because here they do not have to swear an oath. On average, arbitration cases are more expeditious than traditional trials. Traditional trials can languish in courts for years as cases are delayed and appeals are heard. From the time the initial claim is filed until the panel renders a decision, the average case takes a little over a year. If the panel renders a decision, then it is binding on all parties.
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Plaintiffs benefit from the speed of the process. This results in much smaller legal fees. Company cases are not known by the public and this confidentiality is beneficial to a defendant.
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There is a finality in the ruling or award of the panel and this is quite a disadvantage. Fees are charged according to the size of the award and the number of hearings required to reach the decisions. The cases eligible for arbitration are those that involve individual investors and a person or entity that is with the Financial Industry Regulatory Authority. Disputes that involve businesses can also be settled through arbitration. Many times that cases are a dispute between an individual and his investor or brokerage house. Most investment firms ask their new clients to settle any disputes they might have in arbitration. Most contracts include this clause between investors and investment firms. This process is not necessarily less expensive for investment firms, but they prefer it because it helps them avoid bad press. It is not recommended that people represent themselves in arbitration hearing despite it being possible. You don’t want to be pitted against an experience attorney on the side of the defendant to contend with. So it is strongly recommended that you hire a securities arbitration attorney before you file your case.

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