Law is a multifaceted subject that comes with its pros and cons in different situations depending on which route you choose to receive your share of justice. Sometimes cases like a personal injury, where a person is harmed mentally or physically by another party, are better resolved by opting for Arbitration. Contrary to the typical court trials we usually see in movies and shows, Arbitration is an Alternate Dispute Resolution (ADR) method. This process for rendering justice and settlements for damages takes place outside the typical courtroom.Due to its complex nature you must know about the most important details while deciding whether you should choose Arbitration in personal injury cases as your best recourse or not by resorting to a lawsuit.
Choosing Arbitration To Settle Personal Injury Cases
For you to make the right decision, it’s crucial to first understand Arbitration better.
Arbitration
Arbitration is an alternate process to resolve a case and settle for damages outside the courtroom. The plaintiff and defendants present their case to an Arbitrator before the court trial. Both parties involved in the process present their evidence, testimony, and legal materials to the Arbitrator to prop their case.
Who is an Arbitrator
The Arbitrator is a neutral party who listens to both the parties involved in the case. A retired judge, attorney, or decision-maker with significant experience in a similar capacity may choose to serve as an arbitrator. An arbitrator is selected with mutual consensus from both parties, and the fee for Arbitration is also split between the parties involved.
Types Of Arbitration
Binding Arbitration happens when a contract deems Arbitration mandatory in case of disputes. In this situation, the Arbitrator’s decision is final and cannot be contested in the court.
Non-Binding Arbitration happens upon both parties’ choice and consensus where they can choose to treat the Arbitrator’s verdict as a final word or nothing more than a piece of advice. The involved parties can then prep for court trials.
Arbitration For Personal Injury Cases
In case of personal injuries, settlement is often sought through Arbitration more than resorting to court trials. Here are some pros people consider before choosing Arbitration for the matter.
- Less stressful, less formal than typical court trials.
- The cost of Arbitration is only a fraction of the total cost of litigation.
- Verdicts are issued quickly, while trials may take indefinite time.
- Damages can be mutually settled between the involved parties, including an insurance provider, through a High-Low Agreement. While settlement amounts declared by the court may not be favorable for either party.
- An Arbitrator is a person of your choice.
- You get more time to present your case as opposed to a small claims court.
While some may choose court trials as recourse considering the following cons of Arbitration:
- More costly than small claims court.
- The decision lies in the hands of a single person instead of a jury panel.
- The Arbitrator’s verdict (in Binding-Arbitration) is final, and you can’t file for an appeal.
Whether Arbitration serves your interests best or opting for a court trial may favor you more in settling damages for personal injuries – it varies from case to case and is subject to individual discretion. It’s always better to consult your lawyer before making a decision.
Choose Corradino & Papa, LLC For Resolving Personal Injury Cases.
Have you been a victim of bodily injuries? If so, let the experienced attorneys at Corradino and Papa, LLC, assist you in choosing the best way for a fair settlement. Contact us today for a free consultation.