Arbitration is a form of alternative dispute resolution which is used to resolve a dispute/s outside the judiciary courts.
The dispute will be heard and decided upon by one or more persons who are referred to as arbitrator/s.
An arbitration body and its arbitrators must be independent and impartial. The decisions that are delivered by the competent arbitral bodies are usually final and binding.
Arbitration offers a quicker and sometimes cheaper dispute resolution, thus in general making itself more attractive to parties in dispute as opposed to the traditional judiciary courts where proceedings can sometimes drag on for months or years.