What Is Arbitration?

Arbitration is a dispute resolution process that finally resolves the dispute between the parties without a trial. Instead of a judge or a jury, an arbitrator or group of arbitrators finally decide how the dispute should be resolved. An arbitrator is a third-party chosen or appointed to hear and formally rule on the case. Both parties agree that it is “binding”, meaning the decision is final. While this is a less formal proceeding than a trial, each side may present evidence and testimony in order to prove its case to the arbitrator. In arbitration, there is no jury and there may be more than one arbitrator and a panel with one member who presides over the hearing. Setting aside an arbitration award is very difficult.

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