· Arbitration
.Definition
.Characteristics
· Other Out-of-Court
Dispute Resolution
Arbitration
is a dispute resolution mechanism designed to help adversely affected parties to recover damages. In arbitration, an impartial person or panel hears all sides of the issues as presented by the parties, evaluates the evidence, and decides how the matter should be resolved. Arbitration may be final and binding, and is subject to review by a court only on a very limited basis.