ARBITRATION

Arbitration is a private procedure by which the parties (plaintiff and defendant), by mutual agreement, submit to an arbitrator a dispute, instead of turning it to the judicial branch.

The parties choose the arbitrator or arbitration tribunal to be in charge to make a decision on the dispute through an award, which is final and not subject to appeal.

They may also define aspects such as the guidelines to be followed, the language and the place where the arbitration will be held. This allows it to guarantee the impartiality of the process.

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