institutional arbitration

Institutional arbitration is a formal process where parties in a dispute agree to resolve their disagreement by an independent organization, such as the International Chamber of Commerce or the London Court of International Arbitration, rather than through courts. The institution provides established rules, procedures, and a panel of experienced arbitrators to ensure a fair and efficient resolution. This method is often chosen for its neutrality, flexibility, and the enforceability of awards, offering a professional alternative to traditional litigation that can be quicker and more specialized for complex or international disputes.