Arbitration vs. Litigation: What Sets Them Apart?
In the fast-paced world of legal dispute resolution, arbitration and litigation have emerged as two predominant approaches. Each method comes with its unique characteristics, advantages, and challenges. Understanding these differences is critical when deciding on the right approach for resolving your disputes. Before you consult a law firm in Mumbai or anywhere else, let’s dive into the fundamental distinctions between arbitration and litigation. What is Arbitration? Arbitration is a form of Alternative Dispute Resolution (ADR) where parties agree to present their disputes to a neutral third party, known as an arbitrator . Unlike litigation, arbitration takes place outside the courtroom and offers a more private and flexible resolution process. Key Characteristics of Arbitration 1. Flexibility Arbitration allows parties to customize procedural rules and schedules, ensuring a tailored approach to dispute resolution. You can select professional arbitrators suited to the specifi...