Professional Documents
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Purva # 104
Meenal # 106
Peter # 117
Supriya # 134
What is Arbitration?
Definition of Arbitration
Arbitration is a legal
technique for resolution
of Dispute, outside the
courts wherein parties to
a dispute refer it to one
or more person (the
"arbitrators", "arbiters" or
"arbitral tribunal"), by
whose decision (the
"award") they agree to be
bound.
Terminologies
• Any difference
Dispute
• Less complicated
• Cost effective