A lot of people seem to be unaware of this particular possibility that the law stipulates in order to properly benefit those who have been involved in an accident. Instead of pursuing the matter in the court which is definitely timely and costly, they could resort to the so called arbitration institution. This is going to be a process which is, however, a lot faster and far less expensive.
In the arbitration, there is an arbitrator who is chosen and is going to listen to all of the evidence from both of the lawyers who are representing the defendant and the claimant as well as the lawyer of the insurance company if there is one involved. The arbitrator is going to listen to all of the exposed facts and is then going to provide the parties with a written decision which is going to be absolutely binding.
Of course, in order to ensure the protection of legal interests, the law has provided that the arbitrator has to be absolutely unbiased in his ruling and he has to base it, solely on the properly established and undeniably proven facts. Thus, the process is complex yet having an experienced lawyer in your corner is an asset. If you are worried about the fees, work with a legal professional that charges on contingency payment.
How do you start an arbitration process?
Well, most commonly this happens when your insurance company denies you compensation. Your lawyer could then assist you with filing the copies of the Application for Arbitration. Of course, you can do so yourself. Along with the application you would have to file a Mediator’s Report. The entire motion is going to be sent to the insurance company and they are going to have 20 days to provide a written response to the Financial Services Commission of Ontario.
In any case, there are quite a few benefits which are going to stem from this particular process. For once, you can rely on the arbitration process to be a lot faster. This is especially important because we are all well aware of how slow a regular civil lawsuit could be, especially if the case is more complicated. Furthermore, when it comes to handling a case in front of the court, you have to know that this could get quite expensive. This could be rather intimidating and what is more, a lot of people might not have the financial means to do so. An arbitration process is going to be far less expensive and at the same time, it’s going to provide you with the same amount of legal protection as the decision of the arbitrator has the same binding power when it comes to the relationship between the parties. It’s safe to say that this is a good option but you need a reliable personal injury lawyer in Burlington to help you out in the matter.