A construction project is a significant investment of time and money. When signing a contract with a North Carolina construction company, there is an assumption that the company will provide the services necessary to deliver a final result that matches the objectives and goals of the client. However, this does not always happen, and disputes can arise between a client and the construction company. In these situations, arbitration may be a beneficial way to resolve these ongoing matters.
What does arbitration mean?
Arbitration is the process of resolving a dispute outside of the litigation process. This form of alternative dispute resolution offers both sides a way to reach a mutually beneficial resolution without the time and expense of going to court. This process is overseen by a group of arbitrators that will review the documentation and evidence presented, eventually making a final ruling on the matter.
While it does work similarly to the litigation process, arbitration is not the same as going to court. Both parties have the right to present evidence and have the opportunity to voice concerns. There may even be a questioning of witnesses, and after a ruling, there may be the option to appeal.
Resolving a construction dispute
A construction dispute can be complex and costly. Arbitration provides a way to secure a formal resolution to an ongoing dispute involving contract matters, construction defects and other issues with a construction project. An assessment of the specific case allows a North Carolina construction company client to understand the legal options available.