"In trade activities, it is not only about profits, losses and business strategies that must be faced by business actors, but also about the legal aspects when a dispute occurs. If a trade dispute occurs, there are two ways to resolve the issue, namely dispute resolution with litigation or non-litigation. Litigation is the process of resolving disputes in court, while non-litigation is resolving disputes outside the court. Traders tend to choose non-litigation dispute settlement paths because of quick and efficient settlement process. In most situations, Arbitration is the choice of business actors to solve problems without going through a judicial institution because of its efficiency, accessibility and protection of the rights of the parties." [Arbitration Settlement in the ASEAN Economy Community, International Conference on Law Reform (INCLAR 2019)] Discuss the above statement in light of the following questions: a. Explain the differences between the conventional courts dispute settlement method and an alternative dispute settlement method using arbitration. (15 marks) b. In your opinion, which would be a preferred approach and why