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Arbitration is a method of resolving a dispute between two or more parties by neutral, qualified individuals, who serve as decision-makers after weighing the facts of each case presented. The decision-makers are called arbitrators.

Arbitration as a dispute resolution is used mostly in commercial disputes, consumer disputes, credit obligation disputes, and state or investor disputes. It can also be used to resolve disputes among the family, laborers, or workers. An arbitrator is an official person that will make the final decision.

The parties and arbitrators meet in person to conduct the hearing in which the parties present arguments and evidence in support of their respective cases. After the conclusion of the hearing, the arbitrators deliberate the facts of the case and render a written decision called an award.

Arbitration is often resolved much more quickly than court proceedings, so attorney fees are reduced. Also, there are lower costs in preparing for the arbitration than there are in preparing for a jury trial. For binding arbitration, there are limited opportunities for appeal.

What is arbitration? Arbitration is an out-of-court method for resolving a dispute between a worker and an employer. Arbitration takes place in front of a neutral decision-maker called an ?arbitrator? (or in some cases, a group or ?panel? of arbitrators) who will listen to each side and make a decision about the case.

The parties can either opt for a separate arbitration agreement to be signed between them or include an arbitration clause in the main contract between the parties. Arbitration agreement or the arbitration clause should clearly state that the dispute will be resolved through arbitration only.