Arbitration is the new way of solving disputes caused by conflict of interests between two businesses or companies. Many firms deal in international arbitration that you can choose from to solve your disputes. However, you cannot choose the very first arbitration firm you come across. It is a decision that you should take wisely and after considering various aspects.
Here are the questions that you should ask an arbitration law firm before selecting it.
How long they have been working in this field.
The first thing you should ask the arbitrator is their experience. Make sure to choose a firm that has been working in this field for at least a few years as experience brings knowledge and skills.
What is the cost of their services?
Before selecting an arbitration firm, make sure to ask about the cost of their services. Many businesses have a limited budget to solve their disputes. To ensure that it will not go out of your budget, enquire about their services cost first.
How they will keep things confidential?
Confidentiality is one of the major factors that lead companies to choose an arbitration law firm. Before utilizing their services, ask how they will keep the whole procedure and verdict private, when solving the conflict of interests.
How long will it take them to solve the dispute?
If you have a strict timeline under which you want to solve the dispute, then make sure to let the arbitrator know about it.