| Category | Assignment | Subject | Law |
|---|---|---|---|
| University | Arden University | Module Title | International Commercial Law |
Arbitration has become an assortment of out-of-court legal dispute resolution process that is most frequently used in business disputes. Throughout the arbitration procedure, the parties agree that a private, unbiased third person, known as an arbitrator, will render a legally enforceable decision on the issues at hand. The parties to the arbitration procedure often select the arbiter individually, although they may alternatively use an action list. The two companies resolve to arbitrate their dispute rather than take it to court. They choose a mediator who has been deemed an expert in the subject matter and has no competing interests of any kind with either of the parties. The arbitrator serves as an administrator in a traditional courthouse during an arbitration session.
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