Construction projects are complex, fluid, and expensive. While the rewards in terms of profits, satisfaction of seeing a vision come to life, and making a mark in the community and your legacy can be great, the problems that can derail even the best-planned project are numerous. Disputes between all players in a construction project are not uncommon, and the speed with which they can proceed from minor disagreements to work-stopping emergencies can catch people off-guard.
When such disputes come up, the experienced project manager or investor knows better than to ignore them and shrug them off. Instead, they seek out an experienced and trained Alabama construction arbitrator to assist.
Arbitration is a process where both sides agree to present their side of a dispute to a neutral who has the requisite knowledge and experience in the field to render a decision, which is usually binding. Arbitration is therefore faster, less expensive, and more efficient than any alternative process of dispute resolution.
Speed is the key here. Every day your dispute drags on costs are mounting, schedules are slipping, and investors are getting antsy. Arbitration, when conducted by the right arbitrator with the right sort of background, gets to the heart of the dispute and is not bogged down by endless rounds of negotiation. Rather, a decision is made promptly, and everyone goes back to work promptly. Used effectively and early in the dispute process, arbitration can keep your project on schedule and budget.