Arbitration/Mediation/cost of arbitration

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Expert: - 8/10/2006


Question
Dear Mr. Friedman,
I'm writing from Atlanta.  A recent purchase of assets of a company has resulted in a dispute concering if property taxes should be prorated between the buyer and seller.  We, the buyers, paid a prorated share only to be advised belated that the seller should have paid all the all the taxes.  They're now disputed this and will compromise to avoid arbitration--the rememdy in our Purchase Agreement for disputes.  Any idea how much Arbiration could run, even a ball park, should be pursue?  I've done mediation before and it wasn't cheap but not outrageous either.
Any thoughts?  Both parties were represented.
Thanks for your time.

Answer
James,

Arbitration is ususally a less expensive avenue than litigation.  I charge an hourly rate as an arbirator which is $350 per hour and each side is responsible for one half of my time.  The dispute sounds simple and should take less than a day and possibly less than 4 hours total.  At 4 hours of my fee, you would be responsible for $750 and a full day would be $1,500 with the sellers to pick up the other $750 to $1,500.

I usually advise my clients that arbitration is less expensive and more expedient.

I hope the process works out to your benefit.

Very truly yours,

Paul D. Friedman, M.A., Ph.D., J.D.

Arbitration/Mediation

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Paul D. Friedman, M.A., Ph.D., J.D.

Expertise

I am a licensed attorney and Judge Pro Tempore who has conducted and been involved in hundreds of mediations and thousands of arbitrations. I can answer questions regarding settlement conferences, mediations or arbitrations. I do not give legal advice over the internet and it would be helpful to list your location such as country or state.

For more information, you can view my website at WWW.EXPERTETHICS.COM

Experience

I am a licensed attorney, Judge Pro Tempore and adjunct professor.

Experience in the area
I have been a licensed attorney since 1989 and a Judge Pro Tempore since 2005. Additionally, I have a masters degree in bioethics and a doctorate of philosophy regarding comparative ethics

Organizations
State Bar of Arizona
State Bar of Colorado (inactive)
District of Columbia Bar (inactive)
Federal Bar
Licensed in Arizona District Court
Licensed in Ninth Circuit Court of Appeals
Licensed in the United States Supreme Court
American Bar Association
National Board of Trial Advocacy
American Association for Justice
Arizona Trial Lawyers Association
American Society for Bioethics and Humanities
Kennedy Institute of Ethics
National Association of Realtors

Education/Credentials
Bachelor of Arts 1985
Juris Doctorate 1989
Master of Arts in Bioethics 2004
Doctorate of Philosphy 2006

Awards and Honors
Phi Beta Kappa
Multiple Who's Who

Publications
A list of my copyrighted publications and presentations is contained at WWW.EXPERTETHICS.COM

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