Arbitration And Sports Association And Dispute Resolution Under The American Arbitration Association

1099 WordsDec 1, 20155 Pages
TO: Professor Reeves FROM: 6090 RE: Arbitration and Sports: National Basketball Association and dispute resolution under the American Arbitration Association’s rules and procedures DATE: November 30, 2015 I. INTRODUCTION As litigation continues to be a time-wasting, costly, distracted, and unsatisfactory practice for dispute resolution, alternative dispute resolution increases in popularity, specifically, mediation and arbitration. Arbitration is a cost efficient substitute to litigation that is the yielding of a dispute to an impartial party in order to receive a final incumbent decision in the form of an award. Arbitration is sensitive, classified, and modeled to be a swift, and inexpensive solution to dispute. Participating parties may include additional terms in the agreement identifying arrangements to their agreements’ arbitration clauses to meet the requirements of their discrete dispute. In summation, arbitration is process that is private, speedy, cost efficient, and customized to the liking of the parties involved. Alternative dispute resolution is by no means a recently adopted form of dispute resolution. Courts now yield a vast number alternative dispute resolution alternatives, with even some courts requiring that cases be taken to mediation before the court will allow the litigation process to begin. In many facets of industry, alternative dispute resolutions are much preferred alternatives to the litigation process. For example, the construction industry
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