Arbitration is a form of alternate dispute resolution

Legal Pay16 Jun, 2022Legal

Arbitration is a form of alternate dispute resolution whereby parties decide to settle the disputes arising between themselves by submitting their claims to a mutually appointed arbitrator. In recent times, it has become the most preferred form of adjudication in the world. So much so that the growing popularity of arbitration among businesses can be credited for being one of the major facilitators of globalization and for blurring borders with respect to trade and commerce across the world.