Arbitration takes mediation a step further. Arbitrators are selected by opposing parties to solve a dispute. Upon reviewing the evidence and hearing both parties, arbitrators make a binding and enforceable ruling on the issue, called an “Award”.
While arbitration may sound like court, it is actually very different from the traditional judicial system – arbitration is usually consensual and confidential. In addition, arbitration is cheaper, simpler, faster and can in many cases be dealt with remotely.