Arbitration is a valuable alternative to court litigation, but it is often overused and even more frequently misused. The biggest contributor to its misuse is the failure to consider the ramifications of agreeing to binding arbitration and neglecting to evaluate the types of disputes that you are committing to arbitrate before signing a contract.
Trying to fix an arbitration procedure after the battle lines have been drawn will not work. Rather, lawyers negotiating commercial contracts should ask themselves the questions below before agreeing to arbitrate.
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