Arbitration is form of ADR, whereby a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court. Arbitration is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding. There are limited rights of review and appeal of arbitration awards.
WCL provides for both domestic as well as international arbitration. The parties can choose their venue of arbitration and the arbitration shall be held with the aid of WCL at such a place. The arbitration shall be held by retired judges, persons with expertise in particular matters, senior advocates and advocates, as per the needs of the parties.