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SOURCE American Arbitration Association
Latest Caseload Data from the AAA-ICDR(SM) Indicates that Businesses in a Broad Array of Industries Believe Arbitration Offers a Trusted, Impartial, and Cost-Effective Alternative for Settling Disputes
NEW YORK, March 8, 2018 /PRNewswire/ -- The American Arbitration Association-International Centre for Dispute Resolution® (AAA-ICDR) provided conflict management and dispute resolution services for 8,560 commercial cases, involving $15.47 billion in total claims and counterclaims, in 2017. The AAA-ICDR has released arbitration caseload data for the previous year showing year-over-year increases in commercial cases in a wide range of industries, including sports (+41.3%); aviation, aerospace, and national security (+19.4%); commercial real estate (+16.8%); and technology (+14.2%).
"Arbitration continues to serve as a trusted alternative for businesses to fairly, efficiently, and cost-effectively resolve many different types of disputes," said India Johnson, President and CEO of the AAA-ICDR. "As more companies pursue arbitration and mediation to settle their business disputes, we remain committed to enhancing the process, and the experience, of resolving cases with greater transparency and diversity."
The average claim for large business-to-business (B2B) cases facilitated by the AAA-ICDR in 2017 was $7.2 million, while the average large-case counterclaim came to $5.08 million. The largest commercial claims last year involved cases from the technology ($600 million), insurance ($569 million), and energy ($500 million) industries. To view the AAA-ICDR's latest arbitration caseload data, visit http://go.adr.org/rs/294-SFS-516/images/AAA220_2017_B2B_Key_Statistics.pdf.
According to a Micronomics study commissioned by AAA-ICDR (http://go.adr.org/impactsofdelay), federal courts take much longer to resolve cases through trials and appeals than arbitration-and these delays carry a heavy cost for companies:
The AAA-ICDR serves parties in more than 80 countries, offering access to a variety of experienced and respected independent arbitrators and mediators. This international presence, and the AAA-ICDR's broad array of scalable resources, enable the organization to resolve disputes quickly and cost-effectively for large multinational corporations. As part of the AAA-ICDR's commitment to diversity, it continues to add diverse legal and business experts to its roster of arbitrators and mediators. Among the cases facilitated by the AAA-ICDR in 2017, 25% of them were managed by diverse arbitration panels.
About the American Arbitration Association
The not-for-profit American Arbitration Association® (AAA®) has administered approximately 4.1 million alternative dispute resolution (ADR) cases since its founding. With 26 offices in the United States, in addition to Mexico, Singapore, and Bahrain, the AAA provides organizations of all sizes in virtually every industry with ADR services and products. For more information, visit www.adr.org.
About the International Centre for Dispute Resolution
As the international division of the American Arbitration Association (AAA), the International Centre for Dispute Resolution® (ICDR®) is one of the world's largest providers of arbitral and dispute resolution service. Established in 1996, the ICDR serves parties in more than 90 counties, with a staff fluent in over a dozen languages. Through more than 725 independent arbitrators and mediators, the ICDR provides a flexible, party-centered process over a broad range of industries and geopolitical issue. Its recently revised Rules have once again set a standard for arbitration case management. For more information, visit www.icdr.org.
Michael C. Clark
American Arbitration Association
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