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What is Arbitration?

• Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In​ ...
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• What does arbitration mean?
• Arbitration is a private process where disputing parties agree that one or several  individuals can make a decision about the dispute after receiving  evidence and hearing arguments. ... When arbitration is non-binding, the arbitrator's award is advisory and can be final only if accepted by the parties.
  
• What is arbitration process?
• An arbitration is a hearing where a commissioner gives both parties an opportunity to  present their cases regarding the issue in dispute by leading evidence,  presenting documents, cross examination of witnesses, and even  conducting of inspection of premises, where that is necessary.