‘Let us start briefly with the idea of arbitration. It has been used for centuries to resolve commercial disputes. Unlike mediation, where parties must come to their own agreement which the mediator helps to facilitate, an arbitration is a contractual agreement to be bound by the decision of the arbitrator. Various schemes exist which allow commercial parties to appoint an arbitrator.’
Transparency Project, 30th July 2021
Source: www.transparencyproject.org.uk
