In an arbitration, disputants submit their disagreement to a neutral arbitrator who weighs and assesses the evidence presented and makes a final and binding decision or award.

Arbitral awards are enforceable.

Arbitration proceedings are confidential. Parties can avoid public exposure of sensitive business and financial information, and negative publicity often associated with law suits.

Unlike the judicial process, parties have the option of selecting the person who will decide their case. An arbitrator can be selected who has technical expertise and experience in a particular field or business area. This ensures that the arbitrator has a background of relevant knowledge which can lessen hearing time and related costs.

Arbitration is flexible and can accommodate the needs of the parties, rather than the needs of institutions. An arbitration can be as expeditious and efficient as the disputants make it. Arbitrations happen when and where the parties choose.