Most of the time, arbitration in Dallas Texas occurs because of an arbitration clause in a contract wherein the contracting parties have agreed to resolve any contractual disputes through arbitration rather than in the Texas courts. These types of arbitration clauses are often included in a variety of common consumer contracts, including credit cards, health insurance, home repairs, and car loans. If you are involved in a contractual dispute that requires your case to be arbitrated, you need to know what to expect from arbitration in Dallas Texas.
Some arbitration clauses require the use of one of the large arbitration associations which selects the arbitrator or a panel of up to three arbitrators depending upon the complexity of the dispute. These arbitration agencies typically oversee the details of the arbitration such as notifying the parties as to the date and location as well as the procedural rules which will apply. If no arbitration association is specified in the contract, the parties may choose their own arbitrator or arbitrators, schedule and applicable procedural rules that will control.
At the informal arbitration hearing, the parties will each get the opportunity to present their arguments and evidence. The arbitrator or arbitration panel with then render a binding or non-binding decision on the matter, depending upon the prior agreement of the parties. Not only is arbitration less time-consuming than going to court, it is often less expensive since the arbitrating parties do not have to hire legal counsel, although they may if they wish.