Construction delays and problems with the process can lead to complex legal and financial issues for both parties. When there are concerns regarding a breach of contract or issue resulting in financial loss, one party may decide that legal action is necessary. While litigation is sometimes a necessary process to resolve a dispute, there are other options. Arbitration can be a viable way to resolve construction disputes.
An alternative dispute resolution method
Arbitration is a way for two parties to reach an agreement without the need for a lawsuit. There are many benefits to choosing an alternative dispute resolution method to handle legal concerns, including the cost savings. It may also take less time to resolve a construction dispute through this process.
How arbitration works depends on the details of the individual situation. One arbitrator may oversee the process, or there could be a panel of arbitrators that will preside. During arbitration, evidence will be presented, witnesses could be called, there could be questioning on both sides and more. The arbitrator or panel will make a final decision after the hearings.
An understanding of legal options
Before making any important decision regarding a construction dispute, it will be beneficial to discuss options with a legal ally. A North Carolina construction law attorney can provide guidance regarding the right way forward with the best chance of a successful outcome. If choosing arbitration as a dispute resolution method, it will be helpful to have a knowledgeable advocate at every step of the process.