Clear information and financial clarity help companies decide on arbitration

The way in which arbitration is pitched to companies has a significant bearing on whether they select it as a method of alternative dispute resolution; with financial companies being the most hesitant to do so, heard delegates at the first Latin Lawyer-GAR Arbitration Summit held in Miami last month.

Clear information and financial clarity help companies decide on arbitration Left to right: Steven Greenspan, Eduardo Palinkas and Jaime Fernandez

On a panel of in-house counsel that discussed the factors considered when evaluating dispute resolution options, Steven Greenspan, chief litigation counsel at United Technologies Corporation, said companies want their lawyers to present them with business-minded and cost-efficient solutions, that puts arbitration at the forefront. “Business people want to know exactly how much it’s going to cost and how long it will take, and the beauty of arbitration is we’re able to answer those questions. They need something concrete.”



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