Family arbitration is a form of private dispute resolution in which you
and your ex-partner appoint a fair and impartial family arbitrator to
resolve your dispute. It avoids the delays that are currently inherent in the family court system and different to mediation, arbitration guarantees that a decision will be reached.
Arbitration in family law is simply another tool in the box of methods of alternative dispute resolution (an alternative to court) and it's up to you to decide if this would be a better route for you than mediation or court.
Attached is a leaflet that explain more about family arbitration.