Question: Do I need a lawyer for arbitration?

The short answer is no, you do not need a lawyer in arbitration. However, because the dispute resolution process is adversarial in nature, and the outcome is often final and affects your rights, you may want a lawyers help in preparing and presenting your case.

How much does a lawyer charge for arbitration?

Arbitrator fees normally range from about $1000 per day (per diem) to $2000 per day, usually depending upon the arbitrators experience and the geographic area in which he or she practices.

Can a non lawyer represent you in arbitration?

FINRA Rule 12208 allows non-lawyers to represent parties in FINRA arbitrations if permitted by state law. That rule prohibits arbitrators from disqualifying a non-lawyer, or even from staying an arbitration while such a challenge is litigated in the courts.

What is an arbitration attorney?

Arbitration is an alternative dispute resolution procedure parties can choose instead of going to court. Both parties generally are represented by arbitration lawyers who ensure that the case goes as smoothly as possible. Once each side has presented their case, the arbitrators debate and rule.

Why is arbitration less costly?

Cost. Arbitration often is less costly than court litigation, primarily due to the compressed schedule for the completion of discovery and trial. In court litigation, significant expenses are devoted to pre-trial discovery processes, such as written interrogatories and depositions of witnesses.

Who can represent me in arbitration?

You can hire your own lawyer to represent you during arbitration if the subject matter of the arbitration is important or if the amount of money involved is significant. Most people do not hire a lawyer for an arbitration that involves only a small amount of money.

Can you challenge an arbitration decision?

There is no right to appeal in arbitration like there is in court. Under federal and state laws, there are only a few ways to challenge an arbitrators award. The Federal Arbitration Act (“FAA”) and some state laws provide the reasons why an award can be vacated (thrown out), modified (changed), or corrected.

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