Why Do Businesses Prefer Arbitration
1. Why do businesses prefer arbitration.6
Usually cheaper than litigation: resolving a case through arbitration is usually far less costly than proceeding through litigation because the process is quicker and generally less complicated than a court proceeding.
Faster than litigation: according to a recent study by FMCS, the average time from filing to decision was about 475 days in an arbitrated case while a simila case took from 18 months to 3 years to wend is way through the courts.
Flexibility: arbitration hearings can usually be scheduled around the needs and avaibilities of those involved, including weekends and evening.
Private: arbitration proceedings are generally held in private. And parties sometimes agree to keep the proceedings and terms of the final resolution confidential.
Expertise: arbitrators are selected from a pool of professionals, typically with experience in the construction industry and, therefore, may provide a greater level of expertise than a judge.
Simplified procedures: Litigation can involve mounds of paperwork, multiple hearings, depositions, subpoenas, and similar processes. An arbitration may eliminate some or many of those time-consuming and expensive tools of litigation.
2. Globalization makes rich countries richer and poor countries poorer. Do you agree?
3. Some people paying money for the things thay want or need. Other people trade products or goods for what they need. Compare the advantages of these two ways of obtaining things. Which way do you prefer?( phai the hien duoc ngay tren mo bai).
Trading goods or products:
Beneficial mainly when you have an excess of something and would prefer to exchange the excess goods in returns for things you want or need.
Trading of goods also enhances the cultural interaction between the countries.
Use money: 5
Convenient, a lot of choice for consumer => choose the best.
It eradicate the dependency on the availability of the right set of goods or products for exchange to get te things we
Usually cheaper than litigation: resolving a case through arbitration is usually far less costly than proceeding through litigation because the process is quicker and generally less complicated than a court proceeding.
Faster than litigation: according to a recent study by FMCS, the average time from filing to decision was about 475 days in an arbitrated case while a simila case took from 18 months to 3 years to wend is way through the courts.
Flexibility: arbitration hearings can usually be scheduled around the needs and avaibilities of those involved, including weekends and evening.
Private: arbitration proceedings are generally held in private. And parties sometimes agree to keep the proceedings and terms of the final resolution confidential.
Expertise: arbitrators are selected from a pool of professionals, typically with experience in the construction industry and, therefore, may provide a greater level of expertise than a judge.
Simplified procedures: Litigation can involve mounds of paperwork, multiple hearings, depositions, subpoenas, and similar processes. An arbitration may eliminate some or many of those time-consuming and expensive tools of litigation.
2. Globalization makes rich countries richer and poor countries poorer. Do you agree?
3. Some people paying money for the things thay want or need. Other people trade products or goods for what they need. Compare the advantages of these two ways of obtaining things. Which way do you prefer?( phai the hien duoc ngay tren mo bai).
Trading goods or products:
Beneficial mainly when you have an excess of something and would prefer to exchange the excess goods in returns for things you want or need.
Trading of goods also enhances the cultural interaction between the countries.
Use money: 5
Convenient, a lot of choice for consumer => choose the best.
It eradicate the dependency on the availability of the right set of goods or products for exchange to get te things we