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 choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
The arbitration process :-
For anyone facing the possibility of arbitrating a dispute, it's important to know how arbitration works and what to expect during the process. It has its similarities to a traditional court case, but is fundamentally a different process. In this section, you can find resources and links with information about using arbitration to resolve your legal issues and what to expect at an arbitration hearing.
There are five main stages to the arbitration process: (i) initial pleadings; (ii) panel selection; (iii) scheduling; (iv) discovery; (v) trial prep; and (vi) final hearing