New jersey arbitration statement 2025

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Arbitrator Compensation: $1,500 per case* Single Consumer Filing Fee: $375 for 1 or $500 for 3 arbitrators is due once the individual claimant meets the filing requirements; $600 for 1 arbitrator or $725 for 3 arbitrators if Case Filed by Business is due at the time the arbitration is filed.
Under New Jersey Court Rule 4:21A, parties in certain civil cases are required to take part in mandatory, non-binding arbitration. Mandatory non-binding arbitration in New Jersey can lead to early resolution of cases, saving all parties attorneys fees and other costs.
Generally, New Jersey courts favor the enforcement of arbitration agreements.
The statement to the Arbitration Committee is the only opportunity you have to make your case for the credit you are seeking. Much like the opening statement in a trial, your arbitration statement should lay out what the evidence the written material will show regarding the proper credit on the project.
If the parties are satisfied with the arbitrators award, they may either agree to settle the case based on the award or one of the parties may, within 50 days from the date the award is filed, file a motion to confirm the award and enter judgment.
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Arbitration is a process in which a dispute is submitted to experienced and knowledgeable neutral attorneys or retired Superior Court Judges who hear arguments, review evidence and render a non-binding decision. It is less formal, less complex and often can be concluded more quickly than court proceedings.

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