Different countries have different rules regarding arbitration. In most places, the parties to the agreement decide in advance what will be the arbitration's rules such as: how will the the arbitrator be appointed, how long will the arbitration take, what procedural rules will apply, who will pay the costs of it (can be both parties in equal parts, according to the arbitrator's ruling or any other way), etc. A good lawyer can draft this as part of the agreement and you can also find some examples on line.
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