However this is a dispute resolution mechanism whereas disputes are settled out of the court through arbitral tribunals or arbitrators that who make arbitral words as opposed to judgement. Conversely the law relating to arbitration in the US is contained in the Arbitration act 1995. So then this act repealed the Arbitration Act cap 49. Further this Act applies to both international and domestic arbitration.
Whereas under sec 3(1) of the Act an Arbitration Agreement is an agreement through parties to arbitration to submit all or certain disputes arising between them. Whether an arbitral tribunal means that a sole arbitrator or a panel thereof an arbitration agreement might take the form of clause in a separate agreement or the contract between the parties.