Arbitration promises one or more potential benefits over civil court litigation provided there is cooperation among the parties, their counsel and the arbitral tribunal.
Those “promises” or benefits are:
neutral or customized procedural rules/process;
decision-maker learned in the subject matter;
cost savings; and,
Parties can agree to have their dispute settled according to their pre-existing arbitration agreement or can agree to submit to arbitration by way of a submission clause after their dispute arises. Either avenue brings the parties to arbitration.