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Agency & Distributorship
Arbitration is a legal technique for
the resolution of disputes outside
the courts. It is a proceeding in
which a dispute is resolved by an
impartial adjudicator whose
decision, the parties to the dispute
have agreed will be final and
binding. Arbitration is today, most
commonly used for the resolution of
commercial disputes, particularly in
the context of international
commercial transactions. Business
dealings have become even more
global, and threats can arise in the
form of enforcement issues when
dealing with other countries.
Arbitration is a consensual process;
parties will only ever arbitrate
where they agree to do so. Such
agreements generally provide that,
if a dispute should arise, it will
be resolved by arbitration. These
agreements are normal contracts
which contain an arbitration clause |