Abstract:
Arbitration is a dispute resolution technique whereby two or more parties agree to resolve their existing or possible future disputes before a private decision maker instead of a public court. This unique and efficient dispute resolution technique is quite old; arbitration was used in Ancient Egypt, Ancient Greece, and Ancient Rome. Arbitration is still commonly used throughout the world. In the United States, arbitration is frequently used in resolving disputes arising from commercial transactions and maritime, insurance, consumer, and employment contracts.
