arbitrating

Arbitration is a method of resolving disputes outside the courts in which the parties agree to submit their dispute to one or more arbitrators who render a binding decision known as an award. It is used to settle a wide range of civil and commercial issues and can be faster and more private than litigation.

Arbitration can be ad hoc or administered by an institution. It is typically binding, though non-binding forms exist in some contexts. The seat or place of arbitration determines the procedural law governing the process and the legal framework for challenging the award. The parties may include an arbitration clause in a contract or agree to arbitrate after a dispute arises.

Common institutional rules come from bodies such as the International Chamber of Commerce (ICC), London Court of International Arbitration (LCIA), American Arbitration Association/International Centre for Dispute Resolution (AAA/ICDR), and the Singapore International Arbitration Centre (SIAC), among others. The process generally involves filing a notice of arbitration, selecting arbitrators, exchanging statements of claim and defense, and hearings with evidence and witnesses, culminating in a final award. Interim measures may be granted by the tribunal or, in some systems, by courts. Confidentiality is often a valued feature.

Enforceability: awards are typically enforceable in countries party to the New York Convention (1958). Grounds to challenge or refuse enforcement include lack of jurisdiction, improper procedures, excess of authority, or public policy concerns.

Arbitration is commonly used in international trade, commercial contracts, construction, finance, sports, and employment disputes. It offers advantages of neutrality, expertise, and confidentiality but can involve significant costs and limited avenues for appeal.