Arbitration is another process used by parties to settle disputes. An impartial arbitrator (which may be a tribunal or panel) is nominated who may, if the parties so choose, be an expert in the field of the relevant conflict. Unlike any decision or resolutions reached during mediation, decisions reached following arbitration proceedings will be final and binding on the parties (subject to limited exceptions). This method of resolving disputes is therefore more contentious and adversarial than, for instance, mediation.
Advantages
Disadvantages
Arbitration could be a more effective means of resolving the dispute, as the parties could nominate an expert who is able to fully understand the subject matter, and the arbitrator's decision will (generally) be binding and enforceable. However, it is unlikely that arbitration will help to restore the parties' fractured professional relationship, given its adversarial nature.
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