Michael Gangadeen, the founder of Gangadeen & Associates, is a
New York lawyer with more than two decades of experience in the legal
field. He has participated in several arbitrations and he treats
arbitration just as seriously as he treats litigation, despite it being
slightly less formal. Arbitration offers parties several benefits,
including:
- Less hostility. Arbitration parties are encouraged to cooperate with each other and to work together to resolve the issue. Working together dissolves some of the hostility that is often found in litigations.
- Privacy. Arbitration proceedings can be likened to a private litigation, where the legal agreement is binding and official without the case going before a court of law. Arbitration parties often agree to keep the resolution confidential to protect one or both sides.
- Faster and cheaper. When handled correctly, arbitration costs less time and money for both sides than a litigation might. Arbitration fees are typically lower than litigation fees and, if all parties cooperate, the schedule can move the case along months or even years faster than in litigation.
- Flexible schedules. A litigation must be scheduled to the availability of the courts, but an arbitration can be scheduled more flexibly. Evening and weekend appointments are common, provided all involved parties agree to the schedule.