How Arbitrations are Finalized
Disputes that could be bound for a trial are very often mediated successfully by an arbitration attorney, rather than in a courtroom. Once both sides have reached an agreement, arbitrations are ended and it's time to finalize the agreement. This can be complicated and can have serious ramifications for both parties if not completed correctly. An arbitration attorney will continue to assist the clients through this process as well.
A third party is chosen to hear the dispute in a hearing, which is normally more casual than a typical courtroom. Both sides are given the opportunity to present their story along with documents. Once the dispute has been settled by a third party and an award has been given, an arbitration attorney begins the finalization process by completing the final arbitration document, or pleading, to be filed with the court. This document is signed by both parties involved and is filed with the court in the correct jurisdiction. Within this document are all the particulars from the prior arbitrations. The agreement can include dollar amounts that must be paid, or asses that particular acts that must be performed in order to satisfy the agreement, such as completing work to meet the terms of a contract.
It's important to find a trusted arbitration attorney, preferably one located conveniently in your area, so that your case is handled professionally and correctly for both parties' benefit. Read through the website here to learn more about arbitration attorneys and how a typical arbitration begins.