Arbitration, a form of
alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the
courts. The parties to a dispute refer it to
arbitration by one or more persons (the "arbitrators", "arbiters" or "
arbitral tribunal"), and agree to be bound by the arbitration decision (the "
award"). A third party reviews the evidence in the case and imposes a decision that is legally binding on both sides and enforceable in the courts.