For legal disputes between parties, why is arbitration often considered advantageous over litigation?
Arbitration is usually faster and less expensive than litigation. Because arbitration is private, there usually is little or no publicity regarding the dispute. There certainly are no public documents. Discovery is usually not allowed and rules of evidence are not binding. It is therefore less formal.
The arbitrator is usually a knowledgeable expert in the type of dispute in which the parties are engaged. As there are limited grounds for appeal, the decision is more certain.
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