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Arbitration is similar to going to court, but faster, cheaper and less complex than litigation. If the case settles, an arbitration will last around one year. If the case goes to hearing, an arbitration typically takes 16 months.

In some instances, you may be able to sue if you signed a valid arbitration agreement. While courts generally favor arbitration agreements, they will allow you to file a lawsuit if either you didn't understand your rights or your claims fall outside the arbitration provision's scope.

Cons: Limited Appeal Options: One of the most significant downsides of arbitration is that it offers very limited options for appeal. Once the arbitrator makes a decision, it's usually final unless there was a substantial legal oversight.

The arbitrator listens to both sides, looks at the evidence you've sent in and decides what the outcome should be. In some cases, the arbitrator may choose to have several meetings with you both. When the arbitrator makes a decision, this is called an award and it's legally binding.

Disadvantages Questionable Fairness. Mandatory arbitration. Finality: No appeals. While this may be a positive if you find the arbitration decision favorable, you should be aware that if arbitration is binding, both sides give up their right to an appeal. Can be more expensive. Unpredictability: Unconventional outcomes.

Consumers are more likely to win in arbitration than in court. This research from ndp | analytics demonstrates that in disputes initiated by a consumer, consumers fare much better in arbitration than they do in litigation.

from the date the tribunal enters upon reference. Extendable by 6 months, i.e. to 18 months by mutual consent of the parties. After the expiry of this 12 or 18 month period, as the case may be, parties have to approach the Court for extension of time. Time limit for the arbitral tribunal to pass an award.

The arbitrator makes a decision within 30 days of the hearing. The decision is final and binding. Both the applicant and the respondent are mailed a written copy of the decision.

You can usually expect to hear the arbitrator's decision within 45 days of the arbitrator closing the proceedings. However, this timescale is usually set by agreement between you, the other party and the arbitrator.