Arbitration Agreements.docx

Generally a party starts the arbitration process by

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Generally, a party Starts the arbitration process by sending the other party a written demand for arbitration. The request generally describes the parties, the dispute, and the type of result wanted. The opposing party will respond in writing, notifying them whether they believe the argument is arbitrable. If the case is arbitrable, the parties then will select an arbitrator or panel of arbitrators" ("Using Arbitration to Resolve Legal Disputes," 2018). Arbitration can resemble a trial, but with very little to no opportunities for cross-examination. The arbitrator will be neutral; arbitrators are usually belonged to an association like the American Arbitration Association (AAA) or certified in another association.
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LITIGATION COST-BENEFIT ANALYSIS AND ENFORCEABILITY 6 "If an arbitrator has rendered a decision and an award, but a party refuses to abide by the arbitrator's decision, the other party may file an action in court to have the arbitrator's decision enforced" (Cheeseman, 2016). This method is much more economically proficient than litigation and will save much more time and aggravation, and it might also give the upper hand to Solar Company. Using this option in the future would reduce Solar Co.’s legal risk as well as negative publicity that can come litigation. This will be the preferred option to dispute resolution with any of Solar Co.’s business partners preventing them from filing for litigation first. "Arbitrators typically have more expertise in the specific subject matter of the dispute than do judges. They may also have greater flexibility in decision-making" ("Using Arbitration to Resolve Legal Disputes," 2018).
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LITIGATION COST-BENEFIT ANALYSIS AND ENFORCEABILITY 7 Reference Using Arbitration to Resolve Legal Disputes (2018). Retrieved from Cheeseman, H. (2016). LEGAL ENVIRONMENT OF BUSINESS: Online Commerce, Business Ethics, and Global Issues (8th ed.). Retrieved from .
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  • Spring '16
  • Arbitration, Solar Company

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