The six essentials of arbitration are:

1. Agreement to arbitrate between the parties.
2. The appointment of an independent arbitrator.
3. A dispute capable of being resolved through arbitration.
4. Adherence to the rules of natural justice by the arbitrator.
5. Finality of the arbitrator’s decision.
6. The award must be enforceable in law.

Explanation:
Arbitration as an ADR mechanism involves an agreement to submit disputes to an independent arbitrator, whose decision is binding and enforceable. It is often preferred for its flexibility and confidentiality, as well as its ability to ensure fairness through natural justice.