Concept
In the arbitration process, the parties have the autonomy to define practically all the details. These include the number (always odd) and the names of the arbitrators, the location of the proceedings, the procedures and rules to be used in the process, whether it will be arbitration of law or equity, and the language in which the proceedings will take place (in the case of international arbitration).
The arbitration process is more complex than mediation, but still, it is much simpler than the judicial process. By law, the decision must be rendered within a maximum of six months from the start of the process, and the arbitral decision holds the value of a judgment – it must be enforced.