What is an arbitration? Are there many types of arbitration? What is Alternate Dispute Resolution?

Answer 1

Alternate Dispute Resolution (ADR) is resolving conflicts without going to court. Arbitration is one method, there are others.

Arbitration is where each side presents their case to the Arbitrator, who then makes a final decision. Arbitration may be "binding" as in its final and the parties must accept it, or "non-binding" which means they are free to go to court if they disagree with the result. Arbitration may be voluntary, or it may be compelled by the underlying contract, or ordered by a court before it makes a final decision. The Arbitrator should ideally be a neutral third party, but "it ain't necessarily so."

Answer 2

Arbitration is like a court hearing where an arbitrator, not a judge, makes a ruling based on the findings in the case. ADR is when the parties try to resolve their differences outside of court.