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- Arbitration is a process of trying to solve a business dispute using a neutral third party without involving the courts12345. The third party will make a decision after hearing both sides, and the decision may be legally binding1. It is a form of alternative dispute resolution (ADR) that offers the opportunity for practical resolution of disputes on the merits in a process that is based on party autonomy and control2. The parties opt for a private dispute resolution procedure instead of going to court3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Arbitration is the process of trying to solve a business dispute using a neutral third party without involving the courts. The third party will make a decision after hearing both sides, and the decision may be legally binding.www.upcounsel.com/what-is-an-arbitrationArbitration is a form of alternative dispute resolution (“ADR”) that offers the opportunity for practical resolution of disputes on the merits in a process that is based on party autonomy and control. Implemented properly, business or commercial arbitration can avoid the time, expense, and uncertainty of court proceedings.www.ccarbitrators.org/why-arbitrate/Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.www.wipo.int/amc/en/arbitration/what-is-arb.htmlArbitration’s business definition is “a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute.” Arbitrations are just one of three avenues a business can use to resolve a dispute with another corporate legal entity, partner, customer, or government authority.www.zenbusiness.com/arbitration-definition/Arbitration is a form of alternative dispute resolution (ADR). This is a way to resolve disputes outside of judiciary courts. The dispute will be decided by one or more persons (the arbitrators’, arbiters’ or arbitral tribunal), which determine the arbitration award.www.contractscounsel.com/b/arbitration
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