Arbitration
means that the parties in a dispute present their positions, evidence,
and arguments in a hearing to a neutral person, and that neutral
person decides the dispute. If the parties agree before starting
the hearing to be bound by the arbitrator's decision, that decision
may bind the people and be presented to a judge in a court of
law for enforcement just as if there had been a trial and a judge's
decision, but without the cost, delays, and unpreditability of
traditional court litigation. Further, the parties to the dispute
may choose to have the case presented to an arbitrator through
their attorneys. On the other hand, in arbitration the parties
could also decide not to be bound by the arbitrator's decision
or not to have attorneys involved. In other words, the parties
hold on to much of the control over what questions the arbitrator
will answer and how the process goes on from there.
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