Arbitration is a legal term, which is used to describe a process to settle disputes between two or more than two parties. People who are appointed to settle this dispute are well known as “Arbitrators”. Arbitration process could be judicial or non-judicial. The matter is solved in the arbitration court which is also well known as arbitral tribunal. The judgement and decision of the arbitrators after a judicial practice, taking into consideration all the evidence or proof, is final and binding between the parties.