What is Arbitration?

Arbitration is a private legal process that involves a neutral and impartial third party, the arbitrator, making a binding decision on a dispute. It offers advantages over court proceedings, such as privacy, the ability to select an adjudicator, time and cost savings, and faster closure. Arbitration allows parties to avoid airing disputes publicly and can be more flexible in terms of scheduling and participation. The arbitrator's role is to govern the process, listen to the submissions, and make a decision without the need for extensive legal opinions.