Arbitration is a procedure used to resolve legal disputes efficiently and generally at a lower cost than a jury trial. Arbitration is a voluntary procedure where both sides to a dispute agree to have their case heard by a neutral, independent, third party who will hear the evidence and then render a decision. These cases could involve a medical malpractice, doctor malpractice, hospital malpractice or a serious personal injury case. Arbitration can resolve a case much quicker than a jury trial which might take years depending on the jurisdiction.
Binding arbitration generally involves a mini or condensed trial where the rules of evidence are relaxed so as to allow the submission of evidence without the formalities required in court. The ruling of the arbitrator(s) is final and binding upon the parties and ends the dispute.
The parties can agree on one arbitrator to hear and decide the case. In certain instances, each side to a dispute will choose their own arbitrator and then the two arbitrators will choose and agree on a third, neutral arbitrator. The decision of two of the three arbitrators will decide the case and will be final and binding.
High/low arbitrators are an increasing popular form of arbitration. In this type of arbitration, the parties will agree, in advance of the arbitration, on a high figure and a low figure. This figure is used to protect the injured party's downside and the Defendant's upside. This means that no matter what the arbitrator awards, the figure will not be higher than the agreed upon high figure nor lower than the agreed upon low figure. By agreeing to the high/low figures each party insures the least amount one party gets and the most amount one party will have to pay. The high/low figures are not known by the arbitrator until after the award.
You can also agree to a non-binding arbitration, which is sometimes referred to as a mediation, where the case is presented in an even more condensed version, with position papers being provided in advance to the mediator, who in effect suggests a settlement figure or settlement range which the arbitrator feels sets forth the fair value of the case.
There are a variety of methods of arbitrating a case and this option should be explored and discussed with your attorney. If you are looking for an experienced Connecticut Personal Injury Attorney, call our team at 888-244-5480 today for a free consultation.
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