Bespoke tailoring is not just for custom suits, sport coats, shirts and dresses. There are many aspects of the arbitration process that can be carefully tailored to produce a just result and serve the needs of the parties involved. Unlike bespoke clothing however, a tailored arbitration does not have to break the bank.
Customization may even start long before a dispute develops, when parties are drafting arbitration agreements as part of a contract. Unfortunately, arbitration provisions in commercial agreements are often drafted by transactional lawyers, without input from an experienced litigator. The resulting generic provision may be a missed opportunity to craft a more suitable, cost-effective arbitration process.
