Increasingly, many businesses are incorporating clauses that stipulate Alternative Dispute Resolution (particularly arbitration) in their contracts. But is this a good trend for companies signing those contracts?
Womble Bond Dickinson attorney Jim Myrick said companies need to think through all the possible scenarios before signing a contract mandating Alternative Dispute Resolution. He recently spoke on the topic with Charleston CEO as part of a series of short videos.
“The key reason for that is that in arbitration, your appeal rights are limited,” said Myrick, Managing Partner of Womble Bond Dickinson’s Charleston office. “When you sign one of those agreements, you should realistically expect that whatever the arbitrator finds is going to be binding.”
Stay tuned for more short videos on litigation issues from Jim Myrick and Charleston CEO.
Click here to watch the video interview with Jim Myrick.
Jim Myrick is a veteran litigator with more than 30 years of experience in commercial, personal injury, products liability, environmental and land use disputes. Myrick has argued appeals before the South Carolina Court of Appeals, the South Carolina Supreme Court, and the United States Court of Appeals for the Fourth Circuit. He currently serves a Managing Partner of the firm’s Charleston office and is a member of Womble Bond Dickinson’s Firm Management Committee.