Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure.Arbitration is similar to going to court, but faster, cheaper and less complex than litigation. If the case settles, an arbitration will last around one year. Arbitration is a mechanism for resolving disputes between investors and brokers, or between brokers. Arbitration is an out-of-court method for resolving a dispute between a worker and an employer. Harris Statement on Coordinated Action Against Nation's Largest Nonbank Mortgage Servicing Company. BMO refers to BMO Bank N.A.. BMO ATM refers to an ATM in the United States branded with the BMO logo. This means that the decision of the arbitrator is final and there is no appeal.