Arbitration bodies are organizations that facilitate the resolution of disputes outside of traditional court systems. They provide a structured environment where parties can present their cases to an impartial third party, known as an arbitrator. This process is often faster and more cost-effective than litigation, making it a popular choice for resolving commercial and contractual disputes. These bodies establish rules and procedures for arbitration, ensuring fairness and transparency. Examples of well-known arbitration bodies include the American Arbitration Association (AAA) and the International Chamber of Commerce (ICC). They play a crucial role in promoting alternative dispute resolution methods globally.