Arbitration agreements can help both parties by removing the potential need for costly lawsuits in the future if a dispute arises. The parties to an arbitration agreement agree to handle the dispute in a more cost-effective and timely manner than would likely be the case in a court battle.
When a dispute goes to court, it is a matter of public record. That is not the case when a matter is arbitrated. Testimony in an arbitration matter is not public, nor are the specific details about the dispute made public.
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