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Tampa Business Litigation Attorneys / Tampa Arbitration Attorney

Tampa Arbitration Attorney

If you have a business dispute and are pursuing legal action, a contract may stipulate that you must go through arbitration to resolve it. Arbitration is a form of alternative dispute resolution that is similar to mediation and many business contracts often include a provision for it. Like other legal issues, there are many benefits and drawbacks of arbitration, and you need sound legal representation throughout it. Our Tampa arbitration attorney can provide it so you obtain the best possible result.

What is Arbitration?

Arbitration occurs outside of the courtroom. A neutral third party arbitrator meets with the two sides and hears arguments from both regarding the legal issue. After hearing from all sides, the arbitrator will make the final decision. That decision is final and legally binding. This is where arbitration differs from mediation. Mediators do not offer legal advice, nor do they make any decisions. During mediation, a mediator merely facilitates compromise and communication between the conflicting parties.

Benefits of Arbitration

While arbitration does limit your rights, it is not inherently bad. Arbitration has many benefits and they include:

  • Less time-consuming: The arbitration is more flexible than local court schedules, meaning you can reach a resolution much faster. The time arbitration sessions happen, and even their locations, are usually open for discussion and therefore, easier to schedule.
  • More affordable: The process of arbitration is less formal than litigation and so, it is also less costly than going to court. The cost of arbitration is also often divided between the parties involved.
  • Confidential: Court records become a matter of public record, which means anyone can look up the details of your dispute. This makes arbitration a more attractive option when there are personal and confidential issues involved, such as trade secrets and other types of intellectual property.

Drawbacks of Arbitration

Although arbitration has many benefits, there are some drawbacks that come with the process. These include:

  • A legally binding decision: The decision of the arbitrator is final and legally binding. Anyone who goes through arbitration has waived their right to a litigated trial during which a judge would make all of the final decisions. Due to this, if the decision is unfavorable to you, it is usually not possible to appeal the decision or take further legal action.
  • Less predictability: Arbitrators are qualified professionals, but they are not confined to the same precedent bounds as judges are. While the court must follow legal precedent, arbitrators are not and so, they may make a decision that you were not anticipating.

Our Arbitration Attorney in Tampa Can Help You Through the Process

Arbitration may be able to resolve your business dispute, but it is not always the best option. At BBDG Law, our Tampa arbitration attorney can determine if you are required to go through the process and if it is the best option for you. We can also represent you throughout the process so your rights are upheld and you have the best chance of a positive outcome. Call us now at (813) 221-3759 or contact us online to schedule a consultation.