NEW YORK, Feb. 27, 2020 /PRNewswire/ -- The American Arbitration Association-International Centre for Dispute Resolution® (AAA-ICDR) provided alternative dispute resolution (ADR) services for 9,737 business-to-business (B2B) cases involving $18.4 billion in total claims and counterclaims during 2019.
For an in-depth breakdown of the AAA-ICDR's 2019 caseload, please click here.
The construction and life sciences industries accounted for the largest claim amounts by industry in 2019, with $1 billion each, followed by real estate ($350 million) and technology ($327 million). The AAA-ICDR also facilitated arbitration last year for B2B cases in the transportation, energy, aviation/aerospace/national security, healthcare, entertainment/media, and cannabis sectors.
"Our caseload data indicates businesses in a wider variety of industries are learning about ADR and its benefits for resolving B2B disputes," said India Johnson, President and CEO of the American Arbitration Association-International Centre for Dispute Resolution. "We remain dedicated to facilitating fair, efficient, and economical arbitration processes for companies, to bring B2B cases to a speedy resolution."
In addition, the AAA-ICDR continued to strengthen diversity and inclusion among its arbitration panels last year. In 2019, the percentage of women and minorities on the organization's roster of qualified arbitrators grew to 26%. Furthermore, parties in 30% of cases in 2019 selected arbitrators meeting the AAA-ICDR's diversity criteria—demonstrating a steady rise from 28% of cases in 2018 and 25% of cases in 2017.
"Not only is our roster becoming more diverse, but more parties are selecting the diverse arbitrators we have recruited," said Ms. Johnson. "We are proud that our leadership in this area has fostered broader gender and racial diversity among arbitrators."
The American Arbitration Association also recently achieved a significant milestone, having administered ADR services for more than six million cases since its establishment in 1926.
About the American Arbitration Association
The not-for-profit American Arbitration Association® (AAA®) is the leading provider of alternative dispute resolution (ADR) services for parties in commercial disputes, having administered more than six million ADR cases since its founding in 1926. With 26 offices in the United States, in addition to Mexico, Singapore, and Bahrain, the AAA provides organizations of all sizes in virtually every industry with ADR services and products. For more information, visit www.adr.org.
About the International Centre for Dispute Resolution
The International Centre for Dispute Resolution® (ICDR®) is the international division of the AAA and the largest international provider of dispute resolution services. Established in 1996, the ICDR serves parties from over 99 countries with multilingual staff experienced in international dispute resolution proceedings. 993 international cases were filed with the ICDR in 2018, which offers parties a roster of over 725 arbitrators and mediators. For more information, visit www.icdr.org.
SOURCE American Arbitration Association