It is a means of alternate dispute resolution whereby the parties accept that a third party (in this case an arbitrator) resolves the conflict.

Just like all other types of arbitration (MSME and international), national arbitration is governed by the principles and rules of impartiality, suitability, celerity and equality. 

Calculate the rates for your proceeding, according to Center of Arbitration and Conciliation regulations  (spanish version)

You may be interested