👉 The arbitration fluid, often referred to as an "arbitration clause" or "force majeure," is a provision in contracts that allows parties to resolve disputes through arbitration rather than traditional litigation. It typically requires parties to submit any disagreements to an arbitration process, where a neutral third party, or a panel of arbitrators, makes a binding decision. This mechanism is favored for its efficiency, confidentiality, and flexibility compared to court proceedings. Arbitration fluid clauses can specify the governing law, the location for arbitration, and the rules to be followed, aiming to provide a streamlined and predictable resolution process for contractual disputes.
