What is Arbitration?

Arbitrationis a private, consensual, flexible decision-making process for resolving business disputes in a binding and enforceable manner. In arbitration, parties agree to submit their dispute whether in the form of “Arbitration Clause” or “Submission to Arbitration” to an independent and impartial decision-maker (Arbitrator) appointed by mutual consent or statutory provision. Arbitrators hear evidence and argument and issue final and binding decisions (”Award”).