Arbitration is a private process where parties to a dispute appoint a neutral arbitrator to make a decision about the case after receiving evidence and hearing arguments.
Arbitration is different from mediation in that the neutral arbitrator has the authority to make a decision about the dispute. The arbitration process is similar to a trial in that the parties make opening statements and present evidence to the arbitrator. Compared to traditional trials, arbitration can usually be completed more quickly and is less formal. For example, often the parties do not have to follow state or federal rules of evidence. After the hearing, the arbitrator issues an award. Some awards simply announce the decision (a "standard" award), and others give reasons (a "reasoned" award). The arbitration process may be either binding or non-binding. When arbitration is binding, the decision is final, can be enforced by a court, and can only be appealed on very narrow grounds. When arbitration is non-binding, the arbitrator's award is advisory and can be final only if accepted by the parties.
Scott began serving as an arbitrator for FINRA (the Financial Industry Regulatory Authority) in 2008, and for the AAA (American Arbitration Association) in 2018. Since 2008, Scott has served as an arbitrator on over 100 cases for FINRA and the AAA. The cases on which Scott has served involve recovery of investment losses, landlord/tenant, business torts, shareholder disputes, breach of contract, breach of fiduciary duty, fraud, personal guarantees and employment related issues.
As a commercial arbitrator, Scott draws on his over 35 years of legal experience handling business and commercial litigation to conduct fair arbitration hearings and to arrive at just awards. Scott employs best practices when serving as an arbitrator. Scott recognizes the impact of implicit assumptions on decision making, and strives to be aware of implicit assumptions to ensure that he upholds the integrity and fairness of the arbitration process. Scott’s goal is for parties to arbitration to fully present their cases, and for the parties to see and feel that the process is fair, and that they have had a full and fair opportunity to present their case.