ARBITRATION. Your agreement requires an arbitration of any dispute but you find out the cost is overwhelming. Or you just want to make a suggestion to your opponent. Send a VirtualCourthouse( VCH) DEMAND FOR ARBITRATION. Save thousands of dollars. You will be asked to suggest 3 or more suggested arbitrators from the VirtualCourthouse list of arbitrators - if you do not see one of you linking suggest a person you have used before and the VCH staff will make sure they are listed.
A formal invitation will be sent to your opponent who may suggest alternative arbitrators. Once an Arbitrator is selected each party can present the documents and arguments that support their case. An arbitration hearing can be scheduled by face to face , video, audio or a combination. The arbitrator delivers a decision electronically on VirtualCourthouse.Cost - $50 filing fee, the arbitrator's hourly fee and 10% of the arbitrators fee as a case adminsitration fee.If the arbitraors fee is $5000 the case managment fee is $500 - Total fee $5550.
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DEMAND FOR ARBITRATION
Many consumer and commercial agreements contain a provision requiring disputes to be resolved by arbitration. Many of these contractual provisions require the parties to use a particular service provider such as JAMs, AAA, National Arbitration Forum (NAF) and many others. Most likely the parties never checked out the cost of these different service providers before allowing their names to be inserted in the contract. In some cases the contract only requires the parties to arbitrate in accordance with the rules of a provider like AAA. But, if the parties make a Demand in accordance with the rules they are stuck paying the administrative fees.A prudent party will at least attempt to persuade the opposing aprty to use a less costly process.This is the perfect spot for a VirtualCourthouse DEMAND FOR ARBITRATION.
Unfortunately, these service providers have, over time, become very expensive. It is not unusual for the arbitration service fees to exceed $5,000.
VirtualCourthouse’s DEMAND FOR ARBITRATION can cost as little as $200 per party and in most instances will be better than 50% less than other service providers. If the parties agree they can use VirtualCourthouse even though their contract provides otherwise.
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