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- Dictionaryarbitration/ˌɑːbɪˈtreɪʃn/
noun
- 1. the use of an arbitrator to settle a dispute: "Tayside Regional Council called for arbitration to settle the dispute"
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a process in which an independent official tries to avoid a strike (= situation in which workers stop working as a protest) by having discussions that end a disagreement between the workers and their employer: Pension contribution levels have been fixed by collective bargaining and labor arbitration.
Nov 10, 2014 · Arbitration Defined and Explained with Examples. Arbitration is an Alternative Dispute Resolution in which the parties work out an agreement with no trial.
Arbitration is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or ' arbitral tribunal ') renders the decision in the form of an ' arbitration award '. [1] An arbitration award is legally binding on both sides and enforceable in local courts, ...
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court. Its principal characteristics are:
Aug 27, 2024 · Arbitration, nonjudicial legal technique for resolving disputes by referring them to a neutral party for a binding decision, or “award.” An arbitrator may consist of a single person or an arbitration board, usually of three members.
The meaning of ARBITRATION is the action of arbitrating; especially : the hearing and determination of a disputed case by an arbiter. How to use arbitration in a sentence.
Oct 26, 2023 · Generally, arbitration occurs between two parties who are citizens of a country where the arbitration is performed. There is also international arbitration, where two...
