Arbitration is the process whereby parties submit their legal dispute to a neutral party who renders a binding decision. Arbitration is often confused with mediation. In mediation, there is merely a neutral party – the mediator – who attempts to facilitate a settlement between the parties. In arbitration, there is a neutral party who makes a binding decision after an evidentiary hearing. While the arbitrator’s award is binding, in limited circumstances, Colorado law provides for the right to appeal the award.
The advantage of arbitration is the parties can both agree to disagree on some or all issues of the divorce and have their remaining disputes resolved in a manner they can control as far as relative cost and time, ending their dispute much more quickly than the judicial process where the case may not be set for trial for more than a year. While the parties have the added cost of the arbitrator’s fees, having the ability to schedule the hearing more quickly can save tens of thousands of dollars in attorney fees. The attorneys at Cline Caldwell are experienced in handling these types of matters.
Contact Ashleigh at firstname.lastname@example.org to schedule your next arbitration.