Arbitration

Arbitration, a form of alternative dispute resolution (ADR), is a way of resolving disputes outside the courts. Litigation can be expensive, time-consuming and unpredictable.^[1] With arbitration the parties to a dispute agree to have the disagreement decided by a neutral third party.^[2] More often this is a panel of three arbitrators. Each party suggests one, then both arbitrators agree on a third arbitrator.^[1] The decision is the result of a majority vote.^[1]

1. ↑ ^{1.0 1.1 1.2} "Mediation vs. Arbitration vs. Litigation: What's the Difference?". FindLaw. Retrieved 22 October 2015.
2. ↑ "Arbitration". The Free Dictionary/Farlex. Retrieved 22 October 2015.