Ken Hershman, WESA Commissioner and Executive Chairman, has recently given a bit more detail about WESA's recently announced arbitration court, giving a deeper understanding as to how the processes will work.
"The parties to the arbitration will select their own arbitrators, with each party selecting one and then those two selecting the third," he explained. "The arbitrators will take care of complying with procedural requirements [...] The arbitration process should be appealing, as it provides a far more efficient alternative to resolve a variety of disputes when compared to traditional litigation, which is more often than not lengthy and costly. The fact that it is voluntary has no impact on that fact, and I would argue makes it even more appealing, as the parties will be opting into it rather than being compelled to do so."
He went on to say that "many stakeholders will find it valuable," but that it wasn't WESA's goal to try and persuade them to use the arbitration court. "At the end of the day, it will be up to each individual person or entity to determine for themselves whether this process makes sense for them."
What do you think of these new details?