Arbitration is an informal trial held before a neutral court official called an arbitrator. An arbitration hearing is an informal legal proceeding held before a neutral court official called an arbitrator.Binding arbitration is defined as a contractual agreement to settle disputes out of court using a neutral third party called an arbitrator. There are a number of recognized arbitration tribunals available for the resolution of international commercial and financial controversies. Registrants must fill in the online Workshop registration form, confirm their local store, and select the number of.