Arbitration is a widely utilized and highly regarded method of dispute resolution. Comparable to litigation, it employs an adversarial framework and involves the appointment of a neutral arbitrator to render a decision or impose a binding settlement. 

Arbitration is a recognized and widely utilized mechanism for resolving commercial disputes.

Decisions rendered by arbitrators are final and legally binding, with court appeals being an infrequent occurrence. 

Compared to litigation, arbitration is typically more efficient, cost-effective, less formal, and offers greater procedural flexibility. 

Voluntary Agreement: Arbitration proceedings require the explicit and formal written consent of all involved parties.

Privacy and Confidentiality: Arbitration sessions are conducted in a private setting, and the outcomes remain confidential unless all parties provide written authorization for their disclosure.