Arbitration
is a form of judiciary courts. The dispute will be decided by one or more persons (the 'arbitrators', 'arbiters' or 'arbitral tribunal'), which renders the ' award'. An decision or award is legally binding on both sides and enforceable in the courts, unless all parties stipulate that the process and decision are non-binding.[1]
is often used for the resolution of commercial disputes, particularly in the context of international commercial transactions. In certain countries such as the United States, is also frequently employed in consumer and employment matters, where may be mandated by the terms of employment or commercial contracts and may include a waiver of the right to bring a class action claim. Mandatory consumer and employment should be distinguished from consensual , particularly commercial .
