What is it?
A court for economic and commercial disputes.
Two types:
1.State arbitration
2.Private arbitration
Key advantages?
Speed- faster than general courts
Expertise- arbitrators with industry knowledge
Confidentiality- private hearings
Neutrality- important for international contracts
How it works
Claim filed
Arbitrators (1 or 3) chosen by parties
Hearing held
Decision (award)- final and binding
Conclusion
Arbitration courts give businesses a predictable, efficient, and private way to resolve disputes without long court delays.
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