Commercial arbitration is a method of resolving disputes outside of the courts, where parties agree to submit their conflicts to one or more arbitrators who make a binding decision. This process is often preferred in business dealings because it can be faster and less formal than litigation, and it allows parties to select arbitrators with specific expertise relevant to their disputes. Additionally, commercial arbitration can provide privacy and confidentiality, which are crucial for businesses that want to protect sensitive information during the resolution process.
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