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Arbitration is a formal method of dispute resolution involving a neutral third party who makes a binding decision. The third party neutral (the 'arbitrators', 'arbiters' or 'arbitral tribunal') render the decision in the form of an 'arbitration award'. An arbitration decision or award is legally binding on both sides … See more
Parties often seek to resolve disputes through arbitration because of a number of perceived potential advantages over judicial proceedings. Companies often require arbitration … See more
By their nature, the subject matter of some disputes is not capable of arbitration. In general, two groups of legal procedures cannot be subjected … See more
Nations regulate arbitration through a variety of laws. The main body of law applicable to arbitration is normally contained either in the national Private International Law Act (as is the case in Switzerland) or in a separate law on arbitration (as is the … See more
The arbitrators who determine the outcome of the dispute are called the arbitral tribunal. The composition of the arbitral tribunal can vary enormously, with either a sole … See more
Arbitration agreements are generally divided into two types:
• Agreements which provide that, if a dispute should arise, it will be resolved by arbitration. These will … See moreHistory
The United States and Great Britain were pioneers in the use of arbitration to resolve their differences. It … See moreThe definition of Arbitral Award given in sec 2(1)(c) is clearly not exhaustive. It merely points out that an Arbitral Award includes both a final … See more
Wikipedia text under CC-BY-SA license What Is Arbitration and Who Does It Favor? | Explore Law Firms …
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