What is Arbitration?

In order to resolve a dispute, two parties must agree to the appointment of an arbitrator, who will then provide a legally enforceable decision. It is a method of resolving conflicts outside of the courts, which simultaneously saves time and resources.

A legal procedure known as arbitration encourages the mutual resolution of conflicts between two or more parties by the selection of a neutral third party, the judgment of whom is binding on the parties to the dispute. In today's fast-paced society, arbitration is a very useful method for hastening the resolution of conflicts between two parties.

Arbitration is Necessary

The development of a flexible, reasonable, advantageous, and speedy method of resolving disputes without subjecting the parties to the rigorous, resource-intensive, and time-consuming process of the traditional justice delivery system was required by the advancement, liberalization, and globalization of international business relations.

Benefits of Arbitration