Is arbitration as expensive as litigation?
Arbitration can be as expensive and as time consuming as litigation, but doesn’t have to be. Parties and their lawyers can reduce costs by agreeing to limit documents and discoveries, and by giving the arbitrator the power to make the process more efficient. Costs are lower if the arbitrator writes an appropriate arbitration agreement and conducts the process differently than in a litigation. Eliminating the right to appeal can also give parties a faster and less expensive arbitration.