Arbitration is a process in which parties select a neutral to review evidence and determine the outcome of the dispute. In essence, an arbitrator is a private judge.
Parties may engage in arbitration because of pre-existing contractual provisions, or they may determine that it is an appropriate mechanism to resolve a particular dispute. Frequently, the parties agree to be bound by the arbitrator’s decision, and the decision can be appealed only for certain limited reasons.
TMS can provide an arbitrator for disputes involving complex technology.