Q: 1) If two parties have retained attorneys is it too late to go to arbitration? How does one go about initiating arbitrat
Tion. Does it involve dismissing current counselors and hiring a different person to arbitrate the case?
A: No it is not too late to arbitrate if you have retained counsel and there is no need to change counsel. In arbitration, the parties and their attorneys pick a third party neutral to decide the dispute. This is usually done for several reasons, including to save the time and costs it might take to otherwise resolve the matter. If the dispute arises from the contract, that contract may have a clause requiring binding arbitration between the parties. If a party demands arbitration and the arbitration agreement is not challenged, then the parties proceed to start the process by selecting an arbitrator. Even if there is no pre-dispute agreement, parties can reach an arbitration agreement whether they are already in litigation represented by attorneys or not.
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