Explanation:

Voluntary Arbitration. In case of voluntary arbitration the two contending parties unable to compose their difference by themselves or with the help of the mediator or conciliator, agree to submit the conflict / dispute between them to be resolved by an impartial authority, where they are ready to accept the decision of that authority. In case of voluntary arbitration before the dispute is referred for adjudication, the parties can and do themselves refer voluntarily the dispute to arbitration.

To be voluntary arbitration, following elements are essentials.

(i) Voluntary submission of disputes to an arbitrator.

(ii) Subsequent attendance of witness and investigations.

(iii) Enforcement of an award may not be necessary and binding because there is no compulsion. The award may be favorable or unfavorable.

(iv) Voluntary arbitration may be specially needed for disputes arising under agreements.