Missouri Lawyers Media recently published an article about a case where employers were trying to enforce an arbitration agreement mandating that an employee dispute be arbitrated instead of litigated. See http://molawyersmedia.com/2016/06/02/employers-lose-motions-to-compel-arbitration-in-two-appellate-decisions/
While Arbitration and Litigation both lead to the adjudication and binding outcome for disputing parties, arbitration is typically seen as a quicker and more cost effective way of resolving disputes. Cost effective, primarily for larger corporate parties, but not necessarily so for injured parties who want to seek large punitive damages. Mediation, which is really a more expedited for of negotiation, is another form of dispute resolution; however, it is not binding or enforceable by law. Arbitration and Litigation require extensive discovery, testimony under oath, and decisions are rendered based on facts, evidence and law. Mediation is a more informal process that is based on the needs of the involved parties.
To have effective dispute resolution that can balance the punitive nature of an injury with less costly opportunities for parties to come to an agreement on more minor issues, it is my opinion that all three areas of dispute resolution each have their own unique advantages in our legal system.
For arbitration, please contact Betsy Lynch, your FINRA licensed Arbitrator to help resolve your dispute.