New Poll Shows Arbitration is Faster, Simpler, and Less Costly Than Litigation
A Harris poll finds widespread satisfaction in arbitration.
Minneapolis, MN, April 28, 2005 --(PR.com)-- The National Arbitration Forum announced today that a survey by Harris Interactive found wide satisfaction among individuals who chose arbitration over litigation to resolve a dispute. The independent survey was conducted among 609 adults who had participated in a binding arbitration case that reached a decision.
The results showed that when comparing arbitration to litigation:
74% of respondents found arbitration to be faster
63% of respondents found arbitration to be simpler
51% of respondents found arbitration to be less expensive
66% percent of respondents said they would likely use arbitration again
"These results are a testament to the effectiveness of arbitration in providing an out-of-court alternative to resolving disputes," said Curtis Brown, general counsel for the National Arbitration Forum. "This study, as well as the recent Ernst & Young study released in February, support the fact that consumers fare as well-if not better-in arbitration as in court, with significantly less time and expense. And the fact 66 percent said they would use arbitration again, clearly demonstrates its value in today’s legal system."
According to Lisa Rickard, president of the U.S. Chamber of Commerce Institute for Legal Reform, which sponsored the survey, "The results of this study are clear: Americans overwhelmingly prefer arbitration to the stressful, draining, and costly experience of litigation. While the average lawsuit in America takes three years to reach trial or settlement, arbitration can save time and reduce costs, while providing confidentiality and flexibility." She added, "As the cost of the U.S. tort system approaches an astounding $300 billion per year, we must explore ways to make our civil justice system more efficient and more effective. Alternatives to litigation, such as arbitration, are proven means to improve our legal system."
A copy of the full report is available online at:
http://www.instituteforlegalreform.org/resources/ArbitrationStudyFinal.pdf
A copy of the Ernst & Young Study entitled Outcomes of Arbitration: An Empirical Study of Consumer Lending Cases is available on the National Arbitration Forum Web site at:
http://www.arb-forum.com/media/EY_2005.pdf
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The results showed that when comparing arbitration to litigation:
74% of respondents found arbitration to be faster
63% of respondents found arbitration to be simpler
51% of respondents found arbitration to be less expensive
66% percent of respondents said they would likely use arbitration again
"These results are a testament to the effectiveness of arbitration in providing an out-of-court alternative to resolving disputes," said Curtis Brown, general counsel for the National Arbitration Forum. "This study, as well as the recent Ernst & Young study released in February, support the fact that consumers fare as well-if not better-in arbitration as in court, with significantly less time and expense. And the fact 66 percent said they would use arbitration again, clearly demonstrates its value in today’s legal system."
According to Lisa Rickard, president of the U.S. Chamber of Commerce Institute for Legal Reform, which sponsored the survey, "The results of this study are clear: Americans overwhelmingly prefer arbitration to the stressful, draining, and costly experience of litigation. While the average lawsuit in America takes three years to reach trial or settlement, arbitration can save time and reduce costs, while providing confidentiality and flexibility." She added, "As the cost of the U.S. tort system approaches an astounding $300 billion per year, we must explore ways to make our civil justice system more efficient and more effective. Alternatives to litigation, such as arbitration, are proven means to improve our legal system."
A copy of the full report is available online at:
http://www.instituteforlegalreform.org/resources/ArbitrationStudyFinal.pdf
A copy of the Ernst & Young Study entitled Outcomes of Arbitration: An Empirical Study of Consumer Lending Cases is available on the National Arbitration Forum Web site at:
http://www.arb-forum.com/media/EY_2005.pdf
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Contact
National Arbitration Forum
Christina Doucet
952-516-6486
www.adrforum.com
Christina Doucet
952-516-6486
www.adrforum.com
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