Commercial Arbitration is a method used to resolve disputes between businesses without going to court. In this process, both parties agree to present their case to one or more neutral arbitrators, who make a binding decision. This approach is often faster and less formal than traditional litigation, making it a popular choice for companies looking to save time and money.
The arbitration process typically involves submitting evidence and arguments, similar to a court trial, but with more flexibility. Many businesses prefer arbitration because it allows for confidentiality and the ability to choose arbitrators with specific expertise related to their industry.