Creating Effective Arbitration Agreements And Business Mediation Strategies

Arbitration and mediation can save businesses valuable time and money by resolving disputes outside of the courtroom. However, for alternative dispute resolution to be effective, businesses must ensure that they have enforceable arbitration agreements in place and skilled negotiators on their side.

Agreements to arbitrate have become commonplace in today's business world. But that doesn't mean that you should take them for granted. Drafting an agreement that will be enforceable and protect your best interests requires the assistance of a skilled attorney.

A well-drafted arbitration agreement should provide a roadmap for the arbitration process and minimize the risk of disputes along the way. One of the most important issues to address is what types of disputes must be arbitrated. For instance, the scope of arbitration provision may be drafted broadly to include "any disputes relating to or touching upon the breach, performance or interpretation" of an agreement.