Arbitration is the proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to a dispute have agreed will be final and binding. It is the equivalent to litigation in the courts and entirely distinct from the various forms of non-binding dispute resolution mechanisms. A dispute may be arbitrated because the original contract between the parties provides for the arbitration of any dispute arising or because the parties subsequently agree to arbitrate once the dispute has arisen. Arbitration is today most commonly used for the resolution of commercial disputes, particularly in the context of international commercial transactions.