This paper describes dispute resolution by arbitration as one of the so-called alternative forms of dispute resolution. The arbitration form of dispute resolution is represented in commercial relations and arbitration is most often opted for by business people – companies, however it can also be agreed upon by other legal and natural persons. Arbitration is used for the so-called arbitrable dosputes. Arbitration is a global „matter“ with a worldwide arbitration market and arbitration services, where numerous arbitration institutions operate. The paper describes the basic legal features of dispute resolution by arbitration, the manner of transfer and exchange of knowledge in arbitration, and it presents indicators of the work of some international arbitration institutions and the Permament Arbitration Court at the Croatian Chamber of Economy, as the oldest arbitration institution in the Republic of Croatia. The aim of this paper is to present arbitration as a so-called alternative method of dispute resolution, mark its significance and advantages, and describes the work of arbitration institutions that provide the services of organization of settlement of disputes by arbitration through the basic indicators of their work. This paper aims to show that arbitration, which has a long history of existance, is represented as an alternative, and, as s rule, voluntary way of dispute resolution, in regional, European and global frameworks, that there is a market for arbitration services, which provided by numerous arbitration institutions and before which complex and financially valuable disputes are resolved and that theoretical and practical arbitration knowledge is transferred and exchanged, and thus, in this way, it strives to improve and develope arbitration as a dispute resolution mechanism.