Reasons Why You Should Try Out Arbitration for a Franchise Dispute
Many franchise units come into disputes from time to time. Such differences can affect the position if the firm in the market, and that is why owners need to find a way to resolve the dispute. The best dispute resolution method for a franchise dispute us arbitration. Both franchise units facing a dispute need to agree on arbitration.
Arbitration is a dispute resolution method that is similar to litigation when it comes to major aspects. The parties involved conducting a discovery of what they are trying to achieve by the process. Each franchise tries to provide evidence to uncover their claims are relevant. A hearing is heard, and each party is supposed to present evidence, argument, and witnesses to the case. A neutral third party is supposed listed to both cases and make the final decision. The decision is binding, and both parties are supposed to respect it.
Arbitration is a common dispute resolution method, and here is why you should try it out in your franchise. First, the discovery is limited. This means one is only supposed to present their main concern during the hearing. No time is wasted looking for lawyers or trying to prove which lawyer us better than the other one. Only important matters relevant to the dispute are discussed. If you are looking for a dispute resolution method that will save you time, out arbitration today.
As arbitration is a straight forward process, less cost is incurred. Only the parties involved are allowed to participate in the process. A party can send a representative to the hearing. The person does not have to be a lawyer as long as they are well informed about the dispute at hand. The venue is decided by the franchise units facing a dispute. The only cost incurred in this case is the cost of hiring an arbitrator. Both parties should make sure they look for an arbitrator who is neutral and one that does not take an interest in either of their parties. Look for someone that is experienced and one that can be relied upon.
Unlike in litigation, both parties have control over the hearing process. In arbitration, the concerned parties make all the arrangements and choose the arbitrator they are most comfortable with. This gives them control over the hearing. In addition to this, both parties do not hire a lawyer to represent their case out, but they speak their interests out. This being the case, it is clear one has more control than in litigation.
Another major advantage of litigation is that it is confidential. No one else apart from the two franchise units facing a dispute and the third party arbitration officer knows the whereabouts of the process. Both parties are supposed to organize everything and carry out the process privately without involving members of the public. Trade secrets and other important information are protected.
If you are facing a heated franchise dis6pute and looking for a way to solve it in less time, hire an arbitrator today. Most arbitrators are more than willing to help you out in no time.