Here the parties choose, often through a term of a contract, to involve a neutral third party. This arbitrator hears the parties' facts and arguments and renders a binding decision. Business owners and private and public employees, among others, find that arbitration serves their needs. Arbitration can provide a more flexible process for resolving disputes, it is an informal process yet takes place under oath, is speedier and less expensive than litigation, and often allows the parties to choose their own rules. Disputes that can be arbitrated include those in labor, real estate, consumer issues such as those involving major auto manufacturers, health care claims settlement, professional and amateur sports, sexual harassment and claims arising under the Americans with Disabilities Act.
Parties can also agree to arbitrate domestic disputes.
Such arbitration usually involves marriage dissolution and related issues. Arbitration may be an attractive alternative to court resolution of family issues, in part because parties are able to choose an arbitrator with expertise in family law. Such arbitration is generally less expensive and speedier than litigation, and often involves a more flexible process in reaching a settlement. Indiana General Arbitration Act. Indiana Uniform Arbitration Act.