ProStandards Training – Arbitration Mock Hearing. 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. The arbitration agreement will determine key elements of the arbitration process. For example: Will the tribunal comprise one person or three? We will break down the arbitration procedure, including the appointment of arbitrators, evidence submission, hearings, and the arbitration decision. The topics include arbitrator selection, applicable law (procedural and substantive), the interplay between mediation and arbitration, effective use of arbitral.