Arbitration is a confidential process in which an independent third-party is appointed to decide the outcome of a dispute between two or more parties.
The process may be conducted by a sole arbitrator or a panel of multiple arbitrators (often two or three), according to party requirements. The arbitration award is final and binding. Arbitration is often used where parties require a confidential process or where an arbitral award may be more easily enforced than a judgement from a foreign court.
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CEDR acts as an administrating body and Appointing Authority, under The UNCITRAL Arbitration Rules (Articles 5-8).
CEDR can only appoint arbitrators with the consent of all parties.