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The video discusses whether to draft an arbitration clause or a full arbitration agreement in contracts. It introduces arbitration by illustrating a scenario between two parties, A and B, where B breaches their contract. In typical circumstances, A would seek resolution through civil court, which is notoriously slow and could take up to ten years. B, anticipating this delay, may prefer to face penalties rather than adhere to the contract immediately. The purpose of the video is to explain the drafting process for arbitration agreements, emphasizing that businesses can legally agree to settle disputes through arbitration to avoid the prolonged court process.
