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Arbitration is the determining of a dispute using an independent arbitrator, rather than the courts.

For example, international trade disputes may be the subject of arbitration facilitated through the International Chamber of Commerce's International Court of Arbitration.

In arbitration, the parties to a dispute agree to the appointment of an independent arbitrator, by whose decision they agree to be bound.

It is also possible to appoint a panel of arbitrators, usually three, to work together on a single dispute.

See also