In the context of an arbitration, if a party selects a panel, it would decrease the costs associated with the arbitration.True false question.TrueFalse

In the context of arbitration, the statement "if a party selects a panel, it would decrease the costs associated with the arbitration" is generally considered False.

Explanation:

1. Panel Selection: Choosing a panel typically involves selecting multiple arbitrators rather than a single arbitrator. Having a panel usually entails higher costs due to the need to pay multiple arbitrators.

2. Costs Associated: The costs associated with arbitration can include arbitrator fees, administrative expenses, and legal fees. When a panel is selected, these costs tend to increase rather than decrease.

Therefore, the correct answer is False.