Arbitration is a legal term used to describe a process to settle disputes between two or more than two parties. Alternative Dispute Resolution is a process in which a neutral third party helps disputants reaches amicable resolutions to legal conflict. The Arbitration dispute is an alternative to try your dispute in the court system with a judge and jury. This is a resolution technique in which a third party reviews the case and imposes a decision that is legally binding for both sides. Today, Arbitration dispute resolution has become a popular way to identify the root cause of a problem and to build a solution strategy.
Arbitration Dispute Resolution
Arbitration, a form of alternative dispute resolution (ADR), is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons by whose decision, they agree to be bound. It is a settlement technique in which a third party imposes a decision and reviews the case that is legally binding for both sides.
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Alternative Dispute Resolution
Alternative Dispute Resolution provides an alternative to going to court to settle disagreements. Methods include arbitration, where disagreeing parties have the same opinion to be bound by the decision of an independent third party, and mediation, where a third party attempts to arrange a settlement between the two sides.
There are many methods of alternative dispute resolution:-
- Litigation
- Arbitration
- Collaborative law
- Mediation
- Conciliation
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