👉 In arbitration, a neutral third party is appointed to resolve disputes between two or more parties. The arbitrator's decision is final and binding on both parties involved in the dispute. This process is typically conducted through a formal process where each side presents their case, evidence, and arguments, and then an impartial arbitrator makes a decision that is agreed upon by all parties. Arbitrators are often appointed by the courts or governments to ensure fair and just outcomes in disputes involving large numbers of parties.
