Arbitration is a cost-effective alternative to traditional litigation, where a qualified arbitrator resolves disputes instead of a court. It is generally faster and less expensive than lawsuits, offering flexibility in selecting an arbitrator or a panel with relevant expertise. Many contracts include mandatory arbitration clauses, which can limit legal options, often favoring the party drafting the agreement. Arbitration forums vary in rules and procedures, making the choice of forum crucial. While arbitration awards must be confirmed by a court to be enforceable, they have limited appeal options, reinforcing the importance of selecting the right arbitrator. The process is more streamlined and confidential than a trial, but its flexibility can lead to unpredictability. Once confirmed, arbitration decisions hold the same weight as court judgments, highlighting the need for thorough preparation. Courts rarely overturn arbitration awards, making the arbitrator’s role critical in ensuring fairness and expertise in the resolution process.