In arbitration, a neutral third party conducts a hearing where the parties and their attorneys present written and oral evidence.
The parties can choose to have the case heard by a single arbitrator or a panel of three arbitrators.
The rules of evidence are relaxed, allowing the parties more latitude in speaking their minds. This opportunity may enhance each party's satisfaction with the process.
Following the hearing, the arbitrator renders a decision which may be accompanied by an explanation, if requested. The opinion enables the parties to understand the reasons for the decision and, therefore, to accept it as a resolution of the dispute. The arbitrator's decision is final and binding.
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