A conflict between the parties can be addressed outside the court where the matter is submitted to an arbitral tribunal where they give a decision on the dispute which is binding on the parties in conflict. Arbitration is an informal and non-judicial proceeding which can save a lot of time, money and efforts.
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
The increasing popularity and dependence on the internet throughout the world have increased the number of disputes arising from e-commerce, domain names registrations, etc. Thus, the internet can also be used in an effective manner to neutralize such issues by way of online arbitration.