Last month, we discussed the basics of arbitration law and procedure. But why would you want to go the arbitration route? And what are the pitfalls? The great advantage of arbitration is speed. The case reaches a hearing sooner, and the hearings go faster in the absence of court formalities. The result is that the injured party gets paid sooner, and also suffers a lower cost in attorneys' fees. Thus, arbitration tends to favor those who are making the claim, in other words, those whoa re victims in the breach of a contract. This tends to make arbitration clauses more important for someone who does not trust the other party, or someone who does not trust the other
