Arbitration is a non-judicial process for the settlement of disputes where an independent third party - an arbitrator - makes a decision that is binding.

The role of an arbitrator is similar to that of a judge, though the procedures can be less formal and an arbitrator is usually an expert in their own right.

The are many advantages to arbitration:

  • the process can be tailored to suit parties’ particular needs
  • arbitrators can be chosen for their expertise
  • it is confidential
  • it can be speedier and cheaper than court
  • there are limited grounds of appeal
  • arbitral awards are binding and enforceable through the courts.