Arbitration in Contract Law

Arbitration in contract law is a method of resolving disputes outside of court. When parties agree to arbitration, they choose an impartial third party, called an arbitrator, to hear their case and make a binding decision. This process is generally quicker and less formal than going to court, allowing parties to resolve conflicts efficiently. Often included in contracts, arbitration helps avoid lengthy litigation and aims to provide a fair resolution while maintaining confidentiality. It's a popular choice for businesses and individuals seeking an alternative to traditional court proceedings.