Describe the process of arbitration in resolving contract disputes. Discuss the enforceability of arbitral awards and the role of the arbitrator.

Arbitration is a widely used alternative dispute resolution (ADR) process for resolving contract disputes outside of the traditional court system. It involves the submission of a dispute to one or more impartial individuals known as arbitrators, who are empowered to make a binding decision called an arbitral award. Let's discuss the process of arbitration in resolving contract disputes, the enforceability of arbitral awards, and the role of the arbitrator. 1. Initiation of Arbitration: * Agreement: The parties involved in a contract may include an arbitration clause in their agreement, specifying that any disputes arising from the contract will be resolved through arbitration. Alternatively, the parties can agree to pursue arbitration after a dispute has arisen. * Arbitration Demand: The party seeking arbitration initiates the process by sending a written notice or demand for arbitration to the other party, outlining the issues in dispute and their desire to resolve the matter through arbitration. 2. Appointment of Arbitrators: * Selection Process: The parties agree on the number of arbitrators and the selection process. In some cases, there may be a sole arbitrator, while in others, a panel of three arbitrators is chosen. *....