Commercial Arbitration Attorneys
In their quest for predictability and affordability, businesses include binding commercial arbitration provisions in their agreements forcing Plaintiffs/Claimants to resolve their commercial and business disputes in a private forum. In most cases in the United States that means the claims are heard by either JAMS or the American Arbitration Association (“AAA”). Arbitration is very different than court litigation and it’s important to hire attorneys familiar with the unique rules for commercial arbitration in each forum.
Our Chicago Arbitration Attorneys have arbitrated hundreds of matters and are very familiar with AAA, JAMS, and other providers of alternative dispute resolution. In order to realize arbitration’s promise of greater certainty and lower costs, you (or your attorney) must take advantage of the control you are given.
Who Applies the Law in Commercial Arbitration?
Start by choosing which law to apply. Nearly 30 years ago, the U.S. Supreme Court held, in Volt Information Sciences, Inc. v. Board of Trustees of the Leland Stanford Junior University, 489 U.S. 468 (1989), that the Federal Arbitration Act did not preempt the California Arbitration Act in an interstate dispute where the parties agreed that their contract would be governed by California law. Bottom line: make sure the arbitration clause of your agreement reflects what is best for your business or venture.
Unlike Court the parties actually can pick the judge who hears your case in arbitration. The Chicago Arbitration Lawyers at Stoltmann Law Offices know the importance of choosing the right arbitrator. The old adage of good lawyers know the law and great lawyers know the judge couldn’t be truer in arbitration where the attorneys chose the judge who hears your case. Arbitrators have much more discretion and no risk of appeal so choosing the right one is very important. Experienced Chicago Arbitration Attorneys pick a judge whose style and experience fits the facts of your case. With our depth of experience and attorney referral network we are usually able to try your case with an arbitrator we’ve worked with before or have colleagues who have tried cased with the arbitrator appointed to your case that we can plan strategy with.
If the parties cannot agree on an arbitrator AAA and JAMS offer differing approaches on appointing arbitrators but all start with a selection process controlled by the Chicago Arbitration Attorneys. AAA provides lists of ten arbitrators from its National Roster for the parties to agree to. JAMS, on the other hand, provides the parties a list of at least three candidates from which they can eliminate one and rank the remainders. The candidate-arbitrator with the highest composite ranking shall be appointed arbitrator, and if no arbitrator is yielded by this process, then JAMS will designate the arbitrator.
What Rules Apply to Commercial Arbitration?
The procedural rules in arbitration are totally different than Court. Both AAA and JAMS have their own rules. The key rules are detailed below:
Discuss Arbitration with a Chicago Arbitration Attorney
We Offer More Than 50 Years of Experience in Commercial Arbitration. Businesses and individuals that are involved in complex commercial arbitration can count on the Stoltmann Law Offices Commercial Litigation Group to zealously prosecute their interests on a contingent or flat fee basis. If you are involved in an arbitration claim, the Chicago lawyers at the Stoltmann Law Offices Commercial Litigation Group can provide knowledgeable legal representation. Call us at 312-332-4200. We represent clients throughout Cook County, including in Mount Prospect, Oak Lawn, Winnetka, and Oak Park, as well as in DuPage County cities such as Naperville and Aurora.
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Since its inception in March 2005, Stoltmann Law Offices, P.C. has dedicated its practice to representing investors in lawsuits and arbitration claims against brokers, financial advisors, investment advisors, and the companies they work for. Our Chicago investment fraud attorneys offer their clients a combined 35 years of experience fighting for investor rights from offices in Chicago, Illinois and suburban Barrington, Illinois and Downers Grove, Illinois.
The attorneys at Stoltmann Law Offices have dedicated their life’s work to representing investors who have been cheated or defrauded by those professionals they trusted with their hard-earned money and retirement savings, recovering in excess of $50 million for investors over the years.