The main purpose of arbitration is to provide a private and alternative method for resolving disputes outside of the traditional court system. It offers parties a neutral forum where they can present their case, have it heard by impartial arbitrators, and receive a final and binding decision. Arbitration aims to achieve a fair and efficient resolution of disputes while maintaining confidentiality, flexibility, and enforceability of the arbitral award. It is often chosen for its speed, expertise, and cost-effectiveness compared to litigation.