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The main purpose of arbitration

The main purpose of arbitration

by Golam Frauk Ovi -
Number of replies: 0

Arbitration—the out-of-court resolution of a dispute between parties to a contract, decided by an impartial third party (the arbitrator). It is faster and more cost effective than litigation.

The main purpose of arbitration is to resolve disputes outside of court.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.