Why arbitration is called a method of Alternative Dispute Resolution (ADR)? Discuss the importance of arbitration in business.
Arbitration is called a method of Alternative Dispute Resolution (ADR) because it helps settle disputes without going to court. In arbitration, both parties present their problem to a neutral person called an arbitrator, who listens to both sides and makes a decision. This process is faster, simpler, and more private than court cases. It provides … Read more