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The pandemic is a great time to revisit and highlight the utility of submission agreements—agreements that allow parties without pre-existing arbitration clauses to choose to submit a particular dispute to arbitration.
Arbitration is often seen as having three principal advantages over traditional litigation: it is cheaper, faster, and confidential. However, during the COVID-19 pandemic, another, less often-cited advantage of arbitration has come to the forefront: its flexible, party-driven nature. That flexibility is allowing many parties to adapt to the current set of circumstances and initiate or move forward their disputes even in these challenging times.
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