Explain five advantages of arbitration as a form of settling disputes

Advantages of arbitration

  • Cheap –it costs less to see a case through arbitration
  • Flexibility –arbitral tribunals are not bound by previous awards or strict rules of procedure.
  • Speed –it is a faster method of dispute resolution
  • Convenience –parties are free to determine the venue, language and timing of arbitra lproceedings.
  • Informality –free from legal technicalities which characterize ordinary
  • Privacy –arbitral proceedings are conducted in private free from undue

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