Effective Management of Large Complex Cases in ArbitrationMay 31, 2015
Arbitration is often a preferred alternative to litigation of large complex commercial cases. Many studies have shown that arbitration offers procedures that are more economical and efficient than court proceedings. For example, a recent survey conducted by the American Arbitration Association (AAA), the largest provider of alternative dispute resolution (ADR) services, found that in large complex cases that ended in an award on the merits, the period for discovery was less than nine months in more than 85 percent of the cases. (As reported by 417 arbitrators (involving 366 cases) after serving on commercial, construction and individual negotiated employment cases awarded in 2013 that had a claim or counterclaim of at least $500,000.) This is significant because the bulk of litigation costs are incurred during the discovery phase.
In addition to the time and cost advantages, arbitration enhances the prospects of reaching the ‘correct’ outcome. To continue reading, please download: Effective Management of Large Complex Cases in Arbitration.