If you have been injured or your loved one died in the semi-truck accident, you can hold the responsible party accountable if negligence was present. Often, the semi-truck accident case is filed in civil court, but that does not mean it has to be settled inside of a courtroom.
If it most benefits you, we can pursue a semi-truck accident settlement via alternative dispute resolutions (ADR) such as negotiation, mediation, and arbitration. Here is what you need to know about semi-truck accident settlements:
Semi-Truck Accident Settlements via Alternative Dispute Resolutions
Our highly experienced, semi-truck accident lawyers can skillfully guide you through the alternative dispute resolution process to fight for the best possible results. Even when we are pursuing litigation in the courtroom, we can engage in alternative dispute resolutions to determine if that route is best. It is important to know that negotiation and mediation are non-binding methods, but arbitration is a binding method.
Advantages of settling your semi-truck accident case via alternative dispute resolutions include:
- Typically, ADR is more cost-effective and faster than pursuing a courtroom trial.
- ADR is normally less confrontational, as confidentiality is present.
- An objective third party is present and can provide guidance.
- The parties can speak openly with each other about their expectations and negotiate.
Possible disadvantages of settling your semi-truck accident case via alternative dispute resolutions include:
- The plaintiff cannot pursue further legal action regarding the semi-truck accident injury.
- The settlement may be less than what is awarded in court.
- Public admission of guilt by the responsible party is not mandatory.
Two Types of Settlements
If both parties agree to a settlement amount, you can choose between a lump-sum settlement or structured settlement. A lump-sum settlement gives the recipient all the money at once. A structured settlement is set up so that the plaintiff receives regular payments until the settlement is paid in full. Many clients decide which settlement option is best based on how much their settlement will be taxed.