What is the purpose of arbitration?

The purpose of arbitration is to resolve disputes by an impartial third party. In arbitration, the parties involved present their cases to an arbitrator, who makes a binding decision based on the evidence and arguments presented. This process is typically quicker and more streamlined than going through the court system, making it an attractive alternative for dispute resolution. Arbitration allows for a more private and less formal setting than traditional litigation, and it often results in a final resolution that is enforceable in court.

Other options, while they describe different legal processes, do not capture the essence of arbitration specifically. Legal trials in front of a judge involve a judicial process that is quite formal and public. Facilitating negotiation refers more to mediation, which is another form of dispute resolution but one that does not involve a binding decision by a third party. Gathering evidence for a court case pertains to the pre-trial processes used in litigation, which is unrelated to the arbitration process itself.