Construction projects are complex, lengthy processes, and it is common for issues to arise regarding the timeline, price of the completed project and other factors. When complications arise, these matters can escalate into legal and financial disputes that require significant effort to resolve. In matters pertaining to construction disputes, it may be appropriate to pursue a formal resolution to address ongoing concerns. While litigation is common, it is not the only option available to you and your business.
Through arbitration, it may be possible for two contesting parties to reach a reasonable resolution without having to navigate a litigious and complex battle. Arbitration is a common method for resolving construction disputes in New York, and it offers you a way to protect your interests while seeking the best possible outcome to your concerns. Following are benefits this process could provide to you.
Why choose arbitration?
Resolving different types of disputes through litigation is not only a costly process, but it can also take a significant amount of time. Due to the pandemic, a backlog in court cases could mean that it may be years before your case even comes before a judge. Arbitration could be a practical and beneficial option for a variety of reasons, including the following:
- Arbitration may take less time to complete than the traditional litigation process.
- The costs associated with the arbitration are less than the costs typically associated with cost of preparing for a trial.
- Arbitration provides you the opportunity to keep most of the details about your case private, but this is difficult to do during the litigation process.
Arbitration offers the opportunity to present evidence and pursue your specific desired outcome to your case. While it is different from the litigation process, it is a formal and organized process, giving you the chance to fight for damages, specific remedies and other positive outcomes to your case.
The ideal resolution to construction disputes
There is no one-size-fits-all resolution to construction disputes. The ideal outcome in your specific situation depends on the details of the dispute, financial losses suffered and more. If you are unsure of the best way to navigate your current situation, you may benefit from discussing your potential case with a party who can provide knowledgeable legal guidance. Construction disputes are complex, but you are entitled to fight for a beneficial conclusion to ongoing issues that are affecting the completion of the project and your bottom line.