Arbitration is form of dispute resolution which does not involve going to court, whereby an impartial third party, an arbitrator, makes a decision which the parties agree will be final and binding. The function of the arbitrator is similar to that of a judge but with less formality. The arbitration process is generally considered to be a swifter and more cost effective method of dispute resolution than going to court. It is confidential and grounds of appeal are limited.
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