Are Cost Savings Illusory?
So, let’s say that you are the gambling type and are willing to take a risk that if push comes to shove you will get a “good” arbitrator, one that understands the case, is willing to apply the appropriate law and has the ability to apply the facts to the law and come up with an appropriate decision. You determine that you are willing to arbitrate disputes and you sign an agreement containing a clause that provides for the arbitration of all disputes before a well known, national arbitration association, using a panel of three arbitrators. “Great”, you say, “three arbitrators, less risk of a bad decision with three instead of one”. And, of course, you are right. It doesn’t occur to you at the time, however, that you have to pay the fees of the three arbitrators, who, if they are worth their salt, will not come cheaply. Sure enough, a dispute arises and you decide to file for arbitration. You are a little surprised at the amount of the filing fee which is 10 times more than you had to pa
