【正确答案】(1) An arbitrator who is familiar with the technical or social setting of the dispute may be chosen.
   (2) Compared with trial that may sometimes take several years to get the disputes settled in court, there is less delay in disposing dispute through arbitration.
   (3) Since procedure is more informal than in court, the parties may choose not to be represented by lawyers.
   (4) Privacy can be maintained in both the arbitration hearing and the award.
   (5) The parties concerned may choose the arbitrator from the arbitration organization.
   (6) The arbitration procedure is simpler and the cost of arbitration is cheaper.
   (7) The arbitration award is final and has binding force upon the parties concerned.