What is Arbitration?

Arbitration is a confidential dispute resolution process that parties may choose as an alternative to going to court. The arbitration process is consensual in that the parties must agree to refer their dispute to arbitration. The arbitration agreement, commonly knowns as an arbitration clause, is usually included in the main contract between the parties. However, parties may individually agree to arbitration after a dispute has arisen.

In arbitration proceedings, the dispute is decided by a single arbitrator or a panel of arbitrators, in most cases, three in number. An arbitrator serves a similar role to a judge in that they are responsible for managing the proceedings to ensure the parties to the dispute have a reasonable opportunity to present their case. After the arbitration, the arbitrator/s will deliver a final and binding award to the parties.

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