Final answer:
It is true that arbitration is a common method for settling disputes regarding artist management contracts. It provides a more confidential, swift, and specialized setting for resolving such issues compared to traditional court litigation.
Step-by-step explanation:
Arbitration is indeed a common method for settling disputes surrounding artist management contracts. This approach to dispute resolution is often preferred over traditional court litigation because it is typically faster, less formal, and more confidential. Arbitration allows the parties to choose an experienced arbitrator in their specific field, which can be particularly beneficial in the nuanced area of artist management.
Such disputes may include disagreements over contract interpretations, payment terms, or the fulfilment of contractual obligations. The arbitration process is often outlined in the contract itself, specifying how the arbitrator will be selected and the rules that will govern the proceedings.
By agreeing to arbitration, both parties commit to binding or non-binding resolutions put forth by the arbitrator whose decision is based on the evidence and arguments presented. However, it's important to note that while arbitration is a common and popular method, not all contracts may mandate it, and sometimes parties still choose to litigate their disputes.