New York Arbitration Designating Procedure is a process that is used to settle disputes in a timely and cost-effective manner. This process is available in both the commercial and civil context. The procedure involves the selection of an impartial third-party, known as an arbitrator, to review the parties’ dispute, hear evidence, and issue a final, binding decision on the matter. There are two types of New York Arbitration Designating Procedures: a three-person panel and a single-person panel. In a three-person panel, the parties select two arbitrators and the third is appointed by the American Arbitration Association. In a single-person panel, the parties select one arbitrator and the other is appointed by the American Arbitration Association. The parties have the right to challenge the appointment of any arbitrator. The process is designed to ensure that the arbitrator is impartial and free from any bias. New York Arbitration Designating Procedure is a very efficient way to resolve disputes. The process takes less time than traditional litigation and is generally more cost-effective. The process is also confidential, allowing the parties to maintain their privacy.
New York Arbitration Designating Procedure
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