1. Arbitration as an Alternative Settlement of Dispute
... that uses one or several arbitrators to resolve the dispute. Based on the Black's Law Dictionary, arbitration is a process of dispute resolution in which a neutral third party (arbitrator) renders a decision after a hearing at which both parties have an opportunity to be heard. There are several reasons why most people prefer arbitration better than court. First of all, the arbitrator is definitely an ... expert of a case, because the parties themselves that will choose the arbitrator. Usually, an arbitration institution will provide a list of experts that can be appointed as an arbitra...
- Word Count: 619
- Approx Pages: 2
- Grade Level: Undergraduate