The Arbitration is a method of resolving disputes outside of the traditional court system. In this process, an impartial third party, known as an arbitrator, listens to both sides of the argument and makes a binding decision. This approach is often faster and less formal than going to court, making it a popular choice for businesses and individuals. Arbitration can be used in various contexts, including commercial disputes, labor relations, and consumer issues. Many contracts include arbitration clauses, requiring parties to resolve conflicts through this method rather than litigation. This helps streamline the resolution process and can reduce legal costs.