Arbitration - As an alternative dispute resolution

Arbitration is one of the resolution procedure in which a dispute is submitted, by contract of the parties, the arbitrator who make a decision on the dispute.  An arbitration clause could be regulated in a contract. In regulating arbitration clause, the parties opt for a private dispute resolution method instead of going to court. Pursuant to the parties’ wishes, arbitration can be either voluntary or mandatory and can be binding or non-binding. The parties of dispute are free to choose the place of arbitration as the juridical seat of arbitration. The chosen place should be an uncommitted place and has no connection between parties. According to international commercial arbitration proceeding, there might be different methods of law. As the place of arbitration, the parties are free to choose the applicable law in accordance with their wishes. As compared to litigation, arbitration has some advantages. In contradistinction to exclusionary rules, the parties can use everything as evidence so long as relevant and non-cumulative. The speedier resolution and confidentiality is said to be another advantages of arbitration.