An independent person chosen by parties (or through a mechanism agreed by the parties) to settle their dispute by arbitration, rather than court proceedings. An arbitrator may decide the dispute on his or her own (sole arbitrator) or as part of a panel of (usually) three arbitrators. In the case of a three-person arbitral tribunal, most often each party nominates an arbitrator and the two party-appointed arbitrators choose a third arbitrator to chair the tribunal. Appointments can also be made by arbitral institutions or appointing authorities where a party fails to nominate or if the parties have so agreed.