IGNOU IBO 4 2026 - Arbitration is an expensive method to resolve conflict and it does not

Question

Arbitration is an expensive method to resolve conflict and it does not maintain privacy.

12 Feb 2026

Answer :

Word Count : 172

Arbitration, while often considered a formal method for resolving disputes in international trade, can indeed be expensive due to administrative fees, arbitrators’ charges, and legal representation costs. In the context of export-import procedures, businesses prefer dispute resolution methods that are cost-effective and timely, as prolonged conflicts can disrupt the supply

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