ARBITRATION
Arbitration is a less formal alternative to traditional litigation, offering parties a
forum to definitively resolve their dispute with the undivided attention of an Arbitrator.
The Arbitrator rules on discovery requests, determines what evidence is admissible and
reviews testimony prior to rendering a binding decision.
The three primary forms of arbitration offered by National Arbitration and Mediation (NAM) are:
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Open Arbitration, a hearing in which the Arbitrator hears a case and renders
a final decision.
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High-Low Arbitration, a process in which the parties, by agreement, restrict
the range of an Arbitrator's decision by establishing "high" and "low"
parameters.
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Baseball Arbitration, which typically involves the submission by each party of
his/her last best figure and the reason why it should be accepted with the
Hearing Officer's determination being restricted to either one figure or the
other.
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