Arbitration: The Basics
Journal of American Arbitration, Vol. 5, p. 1, 2006
79 Pages Posted: 1 Dec 2011
Date Written: 2006
Arbitration is not a recent phenomenon. In early America, the use of arbitration to resolve disputes predates the United States government and, thus, the establishment of the federal court system by the U.S. Constitution. Arbitration gained considerable popularity in the United States in the 1920s when Wall Street pressed Congress to endorse arbitration as an alternative dispute resolution mechanism to resolve equities disputes. This article is a description of the process of arbitration in the United States. It will focus on the basics of arbitration: its history, its objectives, its scheduling, how the process begins, pre-arbitration matters, the hearing, the award, and the problems with arbitration. The goal of this article is simple and straightforward: to explain the basics of the arbitration process in the United States.
Keywords: Arbitration, Federal Arbitration Act, American Arbitration Association, objectives of arbitration, history of arbitration, arbitration hearing, pre-arbitration matters, scheduling arbitration, arbitration award, problems of arbitration
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