What's one piece of advice you'd offer to parties entering arbitration to help them understand the process better?

Unlike mediation, arbitration is a formal process which will result in a binding decision, much like a judicial process. The parties can agree on the procedure, the arbitrator, the venue, the governing law, appeal rights, and the process. The parties will be responsible for paying the costs of the arbitration unlike a judicial trial. The most common reasons why parties select arbitration to resolve their dispute are that it is a faster process, some or all of the hearing can be virtual, evidence can be introduced by way of written witness statements, the parties can decide who the arbitrator will be, the process is confidential, and the hearing and the decision will not be public.