Within the legal system, there are many different methods of resolving disputes, whether those be private or public ones. One of such methods is the process of going to court and holding a trial. However, another mechanism for dispute resolution is called arbitration. What makes arbitration so different from a trial is that the former occurs outside of court. If a case is arbitrated, the parties involved do not have to attend court and, subsequently, do not have to pay court fees or dedicate time to attending court. However, as with any other mechanism, arbitration has its advantages and disadvantages.
To be more specific, arbitration involves a third party entering the process and looks to resolve the dispute among the parties. The third party, or arbitrator, will be an impartial individual, who will listen and accept the arguments, evidence, and relevant documents of those involved, and help reach a conclusion to the problem. In contrast to both litigation and trials, arbitration is a significantly faster legal process (although this can vary). Each legal process is accompanied by specific rules for the entering of evidence and arguments, and due to evidence entering on the discretion of the arbitrator, such a case may proceed faster than time-consuming exchange of evidence or testimonies.
