Institutions of arbitration

Institutions of arbitration are established organizations that oversee and provide a structured framework for resolving disputes outside of traditional courts. They set rules, appoint arbitrators, and manage the process to ensure fairness and efficiency. These institutions, like the International Chamber of Commerce or the London Court of International Arbitration, help parties reach binding decisions more quickly and flexibly, often in an international or commercial context. Essentially, they serve as neutral bodies that facilitate arbitration proceedings, making disputes easier to resolve while maintaining legal rigor.