|
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 |