What is the difference between arbitration and litigation?

Arbitration and litigation are two different ways of resolving disputes. Both involve giving parties to a dispute the opportunity to present their case to an impartial third party and receive a decision, but they differ in several ways. In arbitration, a dispute is usually resolved by an arbitrator or arbitration board. The parties to the dispute and the arbitrator negotiate an agreement, which may include conditions such as the method of choice of arbitrator or the legal rules that will apply to the arbitration process. This agreement is legally binding, and the decision reached by the arbitrator is legally enforceable. Litigation is a more formal process. It involves filing a lawsuit in court, and the parties present their case before a judge or jury, who are able to decide facts of the case as well as decide the applicable law. The decision of the judge or jury is also legally enforceable. In arbitration, parties usually have more control over the process, including which legal rules will apply and who the arbitrator will be. The process is also usually faster and less expensive than litigation. Litigation, on the other hand, provides a more formal and structured process, with the ability to appeal the decision of the judge or jury. Overall, arbitration and litigation are two different ways of resolving disputes. It is important to understand the differences between them when selecting a method of dispute resolution.

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What is the difference between arbitration and litigation?

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