Commercial arbitrators often hear litigators and business people complain that arbitration has become just as expensive as litigation.
“Why arbitrate when it costs so much? Plus we have to pay the arbitrator; in court, at least we don’t pay for the judge.”
It’s a valid question. But I think the more important question is: what can arbitrators and counsel do to make arbitration more cost effective?
The arbitrator needs to take control of the process. This is harder than it sounds. Arbitration exists because the parties have agreed to arbitrate rather than litigate. So the parties control the process and . . . [more]