Arbitration is known for being a time- and cost-effective alternative to litigation, and for those engaged in construction disputes, it might become an even more attractive option with the addition of a new set of supplementary rules from the American Arbitration Association. AAA, a leading administrator of alternative dispute resolution, is giving those involved in this type of arbitration the option of fixing fees and time frames ahead of time.
The new rules, which became available on June 15, allow parties involved in construction dispute arbitration to predetermine the maximum time permitted to complete the arbitration, the number of hearing days and the arbitrator costs, based on the amount at stake in the arbitration.
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