Franchise Arbitration - A Fast-Track Way To Sort Franchise Disputes
Franchise Arbitration is
a fast method of
Franchise Dispute Resolution with
disputes often arising in franchise business.
With a number of individuals settling for franchise business instead
of putting in their own resources to start a new business, the
franchising business is touching new heights of success with each
passing year. When you become a franchisee you have to agree to the
terms and conditions set in by the franchisor in the franchise
agreement. Everything both on franchisees and franchisor side may go
on smoothly for a long time. But, franchise allocators or franchisors
do make changes in their business with time seeing the market pattern
for their business growth and this sometimes may not go well with the
franchisee. He might not agree to the franchisor’s new terms and
conditions and this is what gives rise to arguments between the two
parties. Franchisees and franchisors are often seen arguing with each
other. Franchise Arbitration
if described rationally is a formal way of system of deciding
disputes as against negotiations and conciliations. In
Franchise Dispute Resolution, arbitration is a commonly
used method of resolving franchise business disputes.
Franchise Arbitration
involves an arbitrator selected on mutual grounds by the
franchisee and the franchisor to sort out their issues. The
arbitrator sits in a private court to announce his ultimate decision.
Franchise Arbitration used in
Franchise Dispute Resolution has a number of
advantages. Firstly, the most important among them is it is far more
reasonable than filing a proper litigation case. You don’t have to
shell-out the extra court fees from your pocket that happens in the
case of a legal case. Second advantage of this kind of dispute
resolution is that the decision ultimately delivered by the
arbitrator is binding to both the franchisee and the franchisor.
There are no chances of appealing it in the higher court of law.
Thirdly, the warring parties in such kind of arbitration cases can
choose an arbitrator of their personal choice who they both trust and
mutually trust, not possible in legal cases.
And last but not the least, Franchise Arbitration helps to
solve Franchise Dispute Resolution in a faster manner, which
at times goes on for years.
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