E-Speed Electronic Arbitration Gets Cheaper
NU Online News Service, Jan.25, 4:16 p.m. EST?A Florida firm said it has reduced the charge to use its electronic filing program for arbitrating an inter-company insurance dispute over a small-dollar auto claim.
The nonprofit company, Arbitration Forums Inc. of Tampa, said filing fees for the E-Speed Filing program have been reduced from $100 to $45.
AF, a provider of dispute resolution services said the E-Speed does not replace its current auto arbitration program but adds an option.
The company said that by using E-Speed, the amount of time insurers experience from date of filing to payment of an award is 40 days, compared to a 112-day average for all other AF arbitration programs.
E-Speed is used for simple two-car accidents with damages not to exceed $2,000 for the applicant. Final binding decisions, AF said, are rendered in 30 days.
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