The reference of a dispute to an impartial person or persons chosen by the parties who agree in advance to abide by the arbitration award issued after the hearing at which both parties are given an opportunity to be heard.

A means of settling a dispute other than by way of litigation. These methods include arbitration and mediation and are usually less costly and more expeditious than litigation.

The power and authority constitutionally conferred upon (or constitutionally recognised as existing in) a court or judge to pronounce the sentence of law, or award the remedies provided by the law, upon a state of facts, proved or admitted, referred to the court or tribunal for decision, and authorised by the law to be the subject of investigation or action by that court or tribunal, and in favour of or against persons who present themselves, or who are brought, before the court or tribunal in some manner sanctioned by law as proper and sufficient.

Dubai International Arbitration Centre (DIAC) is an autonomous, permanent, non-profit institution offering arbitration services and facilities on an international scale. DIAC was created in 1994 as the "Centre for Commercial Conciliation and Arbitration".