arbitraaiinstitutsione
Arbitraaiinstitutsione, also known as institutional arbitration, is a form of alternative dispute resolution (ADR) where a neutral third party, known as an arbitrator, makes a binding decision on a dispute. This process is typically used in commercial and business contexts, where parties agree to submit their differences to an arbitrator rather than a court.
The arbitrator's decision is final and binding on the parties involved, unless the parties agree otherwise
Institutional arbitration is often used when parties wish to avoid the delays and costs associated with litigation
The arbitrator in institutional arbitration is usually selected from a panel of experienced professionals or appointed
Institutional arbitration is recognized and enforced in many jurisdictions around the world, including through international conventions