In 2017, seven out of every 10 AAA® commercial cases with claims of $1 million or more settled prior to going to award.
For that reason, the AAA has introduced the Streamlined Three-Arbitrator Panel Option to help parties in large cases lower the costs and escalate the speed of the dispute resolution process.
When parties’ agreement calls for three arbitrators to hear and decide their case, the Streamlined Three-Arbitrator Panel Option allows them to utilize a single arbitrator for the preliminary and discovery stages of a case. The full panel of three arbitrators then participates in the evidentiary hearing and renders the final award — a more efficient and less expensive process.
