Originally from Alternatives to the High Cost of Litigation

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It is nearly impossible to have a dialogue about arbitration that does not harken back to the problems so often decried by its users: It is expensive and it takes longer than anticipated.

In response to this user experience, numerous studies have been conducted, best practice materials published, and rules revised. One method for streamlining arbitration that is rarely discussed is final offer arbitration, or FOA, in commercial and international practice. It is time to focus on this useful tool.

FOA has several variations but, in its most basic form, it is a process in which the parties submit specific proposals for the resolution of the dispute, and the arbitrator must pick one of the proposals.