Client Alert: The Enactment of the Delaware Rapid Arbitration Act

Earlier this month, the Governor of Delaware signed the Delaware Rapid Arbitration Act (DRAA) into law, ushering in what the State of Delaware hopes will be an efficient and cost-effective alternative to the traditional arbitration process. The DRAA is designed to accelerate arbitration disputes between business entities by enabling arbitrators to decide disputes within as few as 120 days, streamlining traditional arbitration procedures and limiting the jurisdiction of Delaware courts in arbitrations conducted under the DRAA.