The advantages of arbitration include:
• arbitration is usually much faster than litigation in court, and a time limit can be placed on the length of the process;
• unlike in court, parties can select an arbitrator with an appropriate degree of practical experience;
• possibility to combine the procedure with other dispute resolution mechanisms (e.g. med-arb or arb-med) in order to find a mutually agreeable solution;
• closed-door proceedings - absence of negative publicity;
• unlike in court, there are very limited avenues for appeal of an arbitral award, which limits the duration of the dispute and any associated liability.
• due to the provisions of the 1958 New York Convention, arbitral awards are generally easier to enforce in other nations than court judgments;
• arbitration tends to be cheaper and more flexible, more commercial and less formal than court.
