|
Litigation
|
|
Arbitration
|
| 1. |
Public Process
|
1. |
Private Process
|
| 2. |
Any party
can institute a litigation |
2. |
Initiation
of arbitration under an agreement |
| 3. |
Adversarial
procedure |
3. |
May be less
adversarial |
| 4. |
Formal and
inflexible |
4. |
Less formal
and more flexible |
| 5. |
Rules &
Procedures strictly followed |
5. |
Simpler procedures,no
formal rules of evidence |
| 6. |
Broad discovery
|
6. |
Discovery
limited to some documents, no interrogatories or depositions.
|
| 7. |
Parties have
no voice in selection of adjudicators(Judge or Jury) |
7. |
Generally
Adjudicators are selected by parties |
| 8. |
Adjudicators
are generalists |
8. |
Adjudicators
are selected on the basis of their qualification &
expertise. |
| 9. |
Adjudicators
apply the law; decisions set precedents |
9. |
Adjudicators
pay attention less to law. Their decisions do not formally
set precedents |
| 10. |
Appeal against
decisions |
10. |
No appeal.
Vacation of award generally limited to arbitrator's misconduct
and bias. |
| 11. |
Remedies may
include compensatory and punitive damages,injunctive relief
|
11. |
Arbitrators
normally are empowered to grant compensatory damages including
provisional relief |
| 12. |
High Costs
|
12. |
Usually reduced
costs |
| 13. |
Delayed justice
|
13. |
Quick justice
|