Review the American Arbitration Association website, and: do a search for City of El Paso Court fees to undewrstand the process fees involved in arbitration and court..

Given the following conditions, estimate and compare your thoughts on expected costs and time associated with arbitrating or litigating the case involving: In other words, how much would it cost to arbitrate versus handling the following scenario through a court process. How many dollars and how many months/years?

A case involving a dispute over $2,000,000 claimed to cover removal of the cyanide soil mentioned in an earlier assignment

• Both owner and contractor will use lawyers
• Depositions will not be needed in arbitration, but will be needed for 45 witnesses in litigation
• All of the witnesses will testify in both arbitration and litigation
• The arbitration will use one arbitrator
• Assume a court trial will take two weeks and an arbitration will take 3 full days
• Assume costs for lawyers, employees, expert witnesses per hour ($100 to $500/hour)
• Costs are also involved for a court reporter in all depositions at $100/hour