History and Importance of Arbitration
Detailed information on how arbitration emerged as a preferred dispute resolution method, especially in the construction sector
History of Arbitration
Arbitration has been a trusted method of dispute resolution for centuries, offering a structured alternative to lengthy court battles. It provides alegally binding, cost-effective, and confidential way to resolve conflicts, especially in business and construction disputes.
Benefits of Arbitration
Arbitration emerged as a preferred dispute resolution method, especially in the construction sector.
Legally Enforceable
Awards hold the same weight as court judgments.
Time-Efficient
Disputes are resolved within months, not years.
Cost-Effective
Avoids high legal fees and lengthy litigation.