One last attempt at settlement before resort to arbitration, commonly known as “step three and a half”‘, has come into wide-spread usage. At this stage the Parties are more realistic and tend to use their best efforts to conciliate differences.
The three aspects to consider when preparing for arbitration: framing of the issues; witnesses; and the evidence.
Objectively appraise the case.
Select credible witnesses who can survive cross-examination.
Define the issue and ascertain the appropriate remedy.
Outline the case presentation with an eye always on the issue.
Consider the ramifications if the case is lost.