In arbitration, how many experts typically make up the arbitration panel?

In arbitration, it is common for the arbitration panel to consist of three experts. This structure is designed to ensure a balanced evaluation of the issues at hand. The panel typically includes one arbitrator chosen by each party involved in the dispute, along with a third neutral arbitrator who may be selected by the parties or appointed by an arbitration organization. This tri-member panel helps to mitigate bias, as having three arbitrators can lead to a more thorough and balanced discussion of the case, as well as a fairer resolution. The presence of a neutral arbitrator also helps to guide the proceedings and make decisions in a fair and impartial manner, ultimately resulting in a more credible arbitration process. This standard is widely accepted and utilized across many arbitration scenarios, contributing to its effectiveness as a dispute resolution mechanism.