Arbitration Agreements Benefits

· Less time: The delay in civil proceedings in the United States is well documented. Arbitration proceedings are often much faster and allow the parties to proceed with a definitive solution to their dispute. The National Arbitration Forum estimates the time between the filing of arbitration proceedings until its outcome at 4-6 months compared to 15-20 months for a civil lawsuit. · Less expensive: Registration and attorney fees related to arbitration are often significantly lower than litigation fees. Companies should not view arbitration proceedings as a means of restricting employees` rights, expressing concerns or being compensated in the event of a problem. Instead, employers should view the process as a dispute resolution system that does not include the courts. Employers can see many benefits by requiring employees to sign arbitration agreements. But bad writing can be as dangerous as not having any at all. Here are proposals that should be taken into account by employers in designing arbitration agreements that are fair to workers and that withstand most challenges: arbitration is, rightly, a popular form of alternative dispute resolution (ADR). The benefits described above provide parties with a simpler, faster and cheaper way to resolve their disputes and pursue their business objectives. It is therefore important to include an arbitration clause in your business and employment contracts. No one ever wants to deal with a conflict in their affairs, but that doesn`t mean it will never happen. Unfortunately, there are always disputes between trading partners, and many of them want to avoid going to court if they can.

Fortunately, there are a few ways to protect yourself from having to go to court in such situations. One of these possibilities is an arbitration agreement. An arbitration agreement is a simple document, but it has a lot of different components and constraints that you need to understand before you sign something. [EMPLOYERS] and [Workers] agree that any dispute between them arising out of or related to the employment of the employee by or otherwise related to the employer shall be submitted to final and binding arbitration. The parties agree that such a final and binding arbitration procedure is the exclusive remedy in disputes arising out of or in any way related to the employment of the employee by the employer, including, but not limited to, the issue of dismissal for legitimate cause and rights to discrimination. The Worker understands and agrees that by signing this Agreement, the Worker expressly waives any right to sue in a national or federal court, TO PURSUE A DECISION BY AN ADMINISTRATIVE AUTHORITY OR TO USE MEANS OTHER THAN A FINAL AND BINDING ARBITRATION PROCEDURE, CONDUCTED IN THE MANNER SPECIFIED IN THE EMPLOYER`S DIRECTIVE. . . .