>I think binding arbitration can be a useful alternative remedy to the traditional legal system.... It is often beneficial for both parties to go through the accelerated process of binding arbitration.
We see this on TV.
Those court shows (Judge Judy, People's Court, Judge Mathis, etc) are not actually "real" court, but are binding arbitration. By agreeing to arbitration both parties who appear in those forums "win" in some way no matter the outcome. The judgement is paid by the show instead of the defendant, both parties get an appearance fee plus an all expenses paid trip to Los Angeles or New York (depending on the show). So the plantiff is guaranteed quick payment if they win the case and the defendant is guaranteed not to have to pay even if they lose.
Another benefit is the plantiff doesn't have to express any effort trying to collect the judgment (like appearing in court again to get an order to garnish the defendant's bank accounts) and the defendant won’t have any civil judgement on their record (they can show up on your credit report and can negatively affect your credit score)
On top of all this the audience is entertained, Judge Judy is one of the most popular daytime shows.
(Also the judges on these shows are [usually] MORE experienced than the magistrates who hear cases in small claims court)
We see this on TV.
Those court shows (Judge Judy, People's Court, Judge Mathis, etc) are not actually "real" court, but are binding arbitration. By agreeing to arbitration both parties who appear in those forums "win" in some way no matter the outcome. The judgement is paid by the show instead of the defendant, both parties get an appearance fee plus an all expenses paid trip to Los Angeles or New York (depending on the show). So the plantiff is guaranteed quick payment if they win the case and the defendant is guaranteed not to have to pay even if they lose.
Another benefit is the plantiff doesn't have to express any effort trying to collect the judgment (like appearing in court again to get an order to garnish the defendant's bank accounts) and the defendant won’t have any civil judgement on their record (they can show up on your credit report and can negatively affect your credit score)
On top of all this the audience is entertained, Judge Judy is one of the most popular daytime shows.
(Also the judges on these shows are [usually] MORE experienced than the magistrates who hear cases in small claims court)