... the parties in a specific context. Such a solution in arbitration is binding on both parties and even though it can be appealed against in court such an appeal will come under very close scrutiny. Arbitration is governed by several Arbitration Acts which gradually streamlined the process and ensured its speed and cost effectiveness, making it a proper alternative to litigation. Arbitration is very common in the commercial world, due to its confidential nature. In addition to this, arbitration is faster, less expensive and less formal than a resort to litigation. Arbitrations often occur because both parties have agreed in contract with one another to resolve any future dispute by means of arbitration. This is known as a 'Scot Avery Clause'. However, it must be noted that arbitration can sometimes cost as much as litigation in some cases, depending on the qualifications of the professionals involved and the complexity of the matter being ...

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