Hello everyone. This is Jim Parish. I am a personal injury accident attorney in Virginia and today I would like to explain the process of arbitration.
ARBITRATION is a process by which parties who are at issue in a lawsuit or claim allow an independent third party, usually a retired judge or another lawyer that practices in the same area, to decide their case. During an ARBITRATION each side gets the opportunity to put on evidence to question witnesses and to have people testify on their behalf. At the end of the arbitration, the arbitrator will take all the information that’s been gathered, review it, and then issue an opinion with his or her decision about the case. Usually ARBITRATION is binding and that means that when the arbitrator issues his or her decision, that’s the end of the case. It’s very much like going to court. However, some of the formalities of court are avoided. Many personal injury cases are resolved through ARBITRATION. It’s usually a less expensive way to go, and the parties are typically happier. I hope this information is helpful. Thank you.