What is Arbitration?
[[File:Eo-scale2.png|thumb|right|200px]] {{Alternative dispute resolution}} '''Arbitration''', a form of [[alternative dispute resolution]] (ADR), is a way of resolving [[dispute]]s outside the [[court]]s. [[Litigation]] can be expensive, time-consuming and unpredictable.<ref name=FL>{{cite web |url=http://adr.findlaw.com/mediation/mediation-vs-arbitration-vs-litigation-whats-the-difference.html |title=Mediation vs. Arbitration vs. Litigation: What's the Difference?|publisher=FindLaw|access-date=22 October 2015}}</ref> With arbitration the parties to a dispute agree to have the [[wikt:disagreement|disagreement]] decided by a [[wikt:neutral|neutral]] [[wikt:third party|third party]].<ref name=FreeDict>{{cite web |url=http://legal-dictionary.thefreedictionary.com/arbitration |title=Arbitration |publisher=The Free Dictionary/Farlex |access-date=22 October 2015}}</ref> More often this is a panel of three '''arbitrators'''. Each party suggests one, then both arbitrators agree on a third arbitrator.<ref name=FL/> The decision is the result of a majority vote.<ref name=FL/> == Arbitration (hearing) == Arbitration includes an [[agreement]] in advance by both parties to comply with the decision of the arbitrator(s). The process includes a [[hearing (law)|hearing]] in which both parties may be heard.<ref name=FreeDict/> The arbitrator(s) reviews the evidence in the case and makes a decision. One that is legally binding on both sides and enforceable in the courts.<ref>Arthur Sullivan; Steven M. Sheffrin, ''Economics: Principles in action'' (Upper Saddle River, NJ: Pearson Prentice Hall, 2003), p. 324</ref> == Mediation == Another form of alternative [[conflict resolution|dispute resolution]] is mediation.<ref>{{Cite web |url=http://www.wikimediation.org/ |title=Information World Mediation WikiMediation |access-date=2015-10-22 |archive-date=2015-11-14 |archive-url=https://web.archive.org/web/20151114085457/http://www.wikimediation.org/ |url-status=dead }}</ref> Mediation and arbitration both use neutral third parties. For