Faster and Cheaper Way to Resolve Small Business Disputes
The Small Business Arbitration Center of New York is redefining the way small business resolves conflict without expensive court costs and high attorney fees. It guarantees a timely, inexpensive, final and binding end to any dispute, which allows both sides to resolve conflict according to their needs and budget.
New York, New York, May 6, 2015 (Newswire.com) - The Small Business Arbitration Center of New York is redefining the way small business resolves conflict without the expensive court costs and high attorney fees.
It provides a final and binding resolution similar to any court case, but unlike lawsuits that can quickly spiral out of financial control, all decisions with the Small Business Arbitration Center (SBAC) begin with a flat rate, and a pre-determined time limit, which prevents costs from escalating.
SBAC was created by Elizabeth Clemants – a mediator with more than 18 years of experience – after she realized the court systems were inefficient, ineffective and costly. She decided to create a new business model to help small business owners better resolve their disputes by streamlining the process and eliminating many of the unnecessary expenses that frequently lead to expensive court cases.
“In most small business disputes”, Clemants says “parties don’t need e-discovery, expert testimony, depositions, or other timely and costly legal work, which cause many time delays and can be very expensive. They can also be used as a way to intimidate the other side by driving up the cost beyond what one side can afford.”
HOW SBAC WORKS
The Small Business Arbitration Center of New York guarantees a timely, inexpensive, final and binding end to any dispute. This allows both sides to resolve conflict according to their needs and budget.
SBAC is different because the process has three phases: the intake phase, where the price and timeline will be determined. The organizational phase where the parties work with a moderator, who is a New York State Unified Court System, Part 146, certified mediator, who will help the parties put together their case for the arbitrator - with or without an attorney - as well as work to settle any aspect of the case that can be. What can’t be settled will go to the arbitrator for a final decision. The last phase is the arbitration hearing, where a qualified attorney acting as arbitrator with decades of litigation experience will hear the case and make a final and binding decision.
Cost Structure at SBAC
Typical lawsuits are on average 5-times more expensive to resolve than arbitration cases with SBAC. Each case is different based on the needs and complexity of the dispute but SBAC calculates the cost upfront so both sides know what their final cost will be before they begin.
Generally the cost is determined based on how complex the case is and how many organizational sessions and how many hours of arbitration the clients will need. The simplest cases could be done at an average cost of 2,500 per party, while the average cost for one party to retain a lawyer to begin a similar case, would be $10,000 to $15,000 retainer.
If you would like to hear more on how the Small Business Arbitration Center of New York works, you can go to SBACNYC.com or call 212-400-4823
Tags: Alternative to Litigation, Arbiter, Arbitrament, Arbitration, Arbitrators, Lawsuits, Litigation, Mediators, Moderators, Negativities of Court Systems, Resolve Disputes, Resolving Small Business Conflic