CAI-NJ Mar.2018 (w)

M A R C H , 2 0 1 8

Arbitration is a more involved pro-

cess in which the parties agree to

have a neutral third-party act as a

judge to resolve their dispute. Usually

this process is done similar to trial

but much quicker in time. All parties

agree to the decision of the arbitrator

as final and that decision is enforced

by the courts if either party violates the

decision.

The arbitrator reviews documents,

listens to witnesses testify much like in a

trail but at a quicker pace. Arbitration

is more formal than mediation but is still

cheaper than litigation.

The biggest difference between

mediation and arbitration is that in

arbitration the parties are bound by

the decision of the arbitrator whereas

in mediation it’s a negotiation.

Both are useful tools for communi-

ties to resolve differences however,

popularity still resides with mediation.

We find that parties can find common

ground and co-exist in the same com-

munity once their differences are aired

out through communication.

MANAGEMENT

TRENDS...

from page 34.

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“Arbitration is a more

involved process in

which the parties agree

to have a neutral third-

party act as a judge to

resolve their dispute.”