Superior Court or Binding Arbitration decision

Superior Court or Binding Arbitration decision - 3. Some of...

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Calvin Nguyen Business 71 Professor Bohn 6/27/11 1. As a small retail business owner I would choose binding arbitration. 2. Most of the advantages of choosing arbitration revolve around the subject of being a small business. I think that our dispute isn’t big enough to be settled at a superior court, since they wouldn’t even have the time of day for my small business claim. As a small business owner, I would rather just get things done quickly to resolve my problem and accept my award. I would save much more money and time going with the arbitration decision than the superior court; the amount that small retail business deals with is most likely a smaller sum compared to the corporate level, thus I wouldn’t go that far and pay as much to serve my supplier.
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Unformatted text preview: 3. Some of the disadvantage would have to be, my supplier could have the upper hand since its a much stronger party then I am, they can pay out the arbitrator, or the arbitrator is subjected to be on the stronger party. Since binding arbitration is a quick process, there is less appeal, and I might need more time to make my claims and statement to win the arbitrators decision. Even though there are lot arbitrators but there are more cases than arbitrator so most likely they are bombarded with other cases and my arbitrator might cause delays. In some arbitration agreements, the parties are required to pay for their arbitrator, and as a small business owner I wouldnt have that kind of fund....
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