Arbitration is basically a private resolution of a dispute.
Many parties choose arbitration because of the relative speed, lower cost, and greater efficiency of the process. The new UAA is a substantial revision of the Uniform Arbitration Act of 1955, the law in 49 states. The 1955 UAA was limited to such basic issues as enforcement of arbitration agreements, appointment of arbitrators, and review of arbitration awards. The new UAA is also gaining widespread support from numerous groups, including its recent endorsement from the American Bar Association's House of Delegates at its midyear meeting in San Diego, California, February 14-20. The new UAA has a new provision that authorizes the consolidation of separate arbitration proceedings.