Arbitrations issues arise from an arbitration clause in a contract whereby the parties have agreed to resolve any disputes arising out of the contract through arbitration. Arbitration is a method of resolving disputes outside of court. Parties refer their disputes to an arbitrator who reviews the evidence, listens to the parties, and then makes a decision, following the rules that have been agreed by them.
The award is binding on the parties and can be made enforceable by the judicial authorities. The arbitration process is less formal than a courtroom hearing or trial, but is more formal than mediation or negotiation. It also provides parties with more control on the dispute resolution process.
