$13,476.77 to $403, 033.90
1 On the other hand, according to http://www.insidecounsel.com, arbitration is more expensive than litigation. 2  This is based on the result of a study of employment-related disputes. 3  Attorney’s fees range from $13,043.35 to $283,583.45. 4  The total cost of arbitration was reported to range from $13,476.77 to $403, 033.90. 1 Check out the cost calculator at icwbo.org to help you determine an estimate of the likely costs of an arbitration. 2  On the other hand, according to http://www.insidecounsel.com, arbitration is more expensive than litigation. 3 1 You and your employer should have the right to reject an arbitrator that has a conflict of interest. 2  Costs. 3  Because your employer wants the arbitration, be sure that your employer is the one that is going to pay the costs of the arbitration. This person is hired (either individually or through an arbitration service) to hear both sides of the case and make a decision. Because you signed the employment arbitration agreement, the decision of the arbitrator is generally binding on both you and your employer. The cost of arbitration is different in each county. Each side typically pays half the arbitration fee, which is usually $50 to $125 per hour for the arbitrator's time. Usually, the parties must send a deposit to the arbitrator when the arbitrator is selected, and must pay the whole fee before the hearing. If a party is unable to afford the cost of an arbitrator, a judge may waive some or all of the arbitrator's fee, in which case the state pays that amount. The judge also may defer the fees until the winner has been determined, and then the losing party pays the fees. 1 The cost of arbitration will greatly depend on the monetary value of the dispute. 2  For example, an arbitration settling a dispute of $10,000 could cost anywhere from $1,000 to $3,000, while a dispute over $100,000 could cost $5,000 to $10,000. 1 Check out the cost calculator at icwbo.org to help you determine an estimate of the likely costs of an arbitration. 2  On the other hand, according to http://www.insidecounsel.com, arbitration is more expensive than litigation. 3  This is based on the result of a study of employment-related disputes. Public Citizen's survey of costs finds that, for example, the forum fee for a $60,000 employment discrimination claim in the Circuit Court of Cook County, Illinois is $221. The forum fees for the same claim before the National Arbitration Forum (NAF) would be $10,925, 4,943% higher. -U.S. Chamber of Commerce Arbitration can save parties 70-80% of the cost of litigating these cases.. -Ed Anderson, National Arbitration Forum Arbitration still costs less than litigation. -The Wall Street Journal Less costly -AT&T Broadband Cost-effective -Sen. If the writing obligates you to binding arbitration, and that is not your wish, shop around for another provider. Heed all agreement changes. If a company switches the terms of its contract to include mandatory arbitration, it must notify you in writing first. It is not unusual, for example, for a well-known arbitrator to charge $3,000 to $4,000 per day for his or her services. And most parties in arbitrations will also hire lawyers to help them through the process, adding to their costs. 1 This is based on the result of a study of employment-related disputes. 2  Attorney’s fees range from $13,043.35 to $283,583.45. 3  The total cost of arbitration was reported to range from $13,476.77 to $403, 033.90. 1 Check out the cost calculator at icwbo.org to help you determine an estimate of the likely costs of an arbitration. 2  On the other hand, according to http://www.insidecounsel.com, arbitration is more expensive than litigation. 3  In mandatory court arbitration, the case will usually have a hearing within 7 weeks after the arbitrator is chosen. An arbitrator should issue a decision within 20 days after the hearing is finished. In voluntary arbitration, a contract or other agreement of the parties may set the timelines. If a party is unable to afford the cost of an arbitrator, a judge may waive some or all of the arbitrator's fee, in which case the state pays that amount. The judge also may defer the fees until the winner has been determined, and then the losing party pays the fees. But in the litigation cases, total costs and outside counsel fees were $704,908.20, with an average per-case expenditure of $70,490.82 — a difference of more than $30,000 per case! Arbitration fared no better in getting to the finish line faster. For cases litigated in court, the median case lifecycle was 19 months. The study, in a nutshell, shows that arbitration costs rival those of litigation. Customization of the process is key, rather than a one-size-fits-all approach. The study is, of course, not a tell-all; the devil is in the details. Benefits to Employers. Employers favor arbitration over court action because the arbitration process is more cost-effective and less time-consuming. While arbitration is a formal process, the rules and procedures are less onerous than those of a court of law. The right of appeal from an arbitrator's decision is limited, offering employers increased certainty. BananaStock/BananaStock/Getty Images. If a dispute arises between an employee and his employer, either party can raise a court action to resolve the issue. However, court actions are costly and time-consuming. Arbitration is an alternative method of dispute resolution.
http://www.howmuchisit.org/how-much-does-arbitration-cost/ http://employment.findlaw.com/hiring-process/employment-arbitration-agreements.html http://courts.oregon.gov/OJD/programs/adr/Pages/whatisarbitration.aspx http://www.howmuchisit.org/how-much-does-arbitration-cost/ http://www.lawmemo.com/arb/res/cost.htm http://www.nolo.com/legal-encyclopedia/arbitration-pros-cons-29807.html http://www.howmuchisit.org/how-much-does-arbitration-cost/ http://courts.oregon.gov/OJD/programs/adr/Pages/whatisarbitration.aspx http://www.insidecounsel.com/2012/12/06/which-costs-less-arbitration-or-litigation http://smallbusiness.chron.com/benefits-employment-arbitration-14693.html
what is the cost of employment arbitration