Which of the following is true of arbitration?
A) Arbitration is more expensive and time-consuming than litigation.
B) Arbitrators' decisions are rarely binding on the parties.
C) Arbitrators must be licensed pursuant to the American Arbitration Association.
D) An arbitrator is always a neutral third party.
E) Arbitrators must be licensed and trained to assume the role.

Question

Quizplus · Accepted Answer

The arbitrator should be disinterested in any financial impact of the decision and neutral regarding the issues presented in the dispute. There are no licensing requirements an arbitrator must satisfy. However, an arbitrator often is chosen from a list of qualified arbitrators provided by the arbitration service.

Which of the Following Is True of Arbitration