What is arbitration?
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Arbitration is used in arbitration courts, permanent courts and various forms of international arbitration in the application of international law. The concept of arbitration also occurs in the economy and is used to negotiate trade relations. It helps to resolve disputes amicably without the involvement of the courts, it is used in the country and internationally.
The function of the judge is performed by an impartial arbitrator who has been accepted by all parties involved in the dispute. The arbitrator should be a person who is a specialist in the field of dispute. Prior to arbitration, both parties agree on the rules under which the proceedings will take place.
Arbitration is supposed to be faster than a traditional court and cheaper. Despite this, there are many cases where the length of the trial is comparable to that of common courts, and the costs of such proceedings may also be excessive. After the proceedings are completed, a contract is drawn up that contains all the decisions.
Arbitration is used in arbitration courts, permanent courts and various forms of international arbitration in the application of international law. The concept of arbitration also occurs in the economy and is used to negotiate trade relations. It helps to resolve disputes amicably without the involvement of the courts, it is used in the country and internationally.
The function of the judge is performed by an impartial arbitrator who has been accepted by all parties involved in the dispute. The arbitrator should be a person who is a specialist in the field of dispute. Prior to arbitration, both parties agree on the rules under which the proceedings will take place.
Arbitration is supposed to be faster than a traditional court and cheaper. Despite this, there are many cases where the length of the trial is comparable to that of common courts, and the costs of such proceedings may also be excessive. After the proceedings are completed, a contract is drawn up that contains all the decisions.
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