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- Dictionaryar·bi·tra·tion/ˌärbəˈtrāSH(ə)n/
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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ARBITRATION definition: 1. the process of solving an argument between people by helping them to agree to an acceptable…. Learn more.
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.
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. Are arbiter and arbitration arbitrary?
Arbitration is not the same as judicial proceedings (although in some jurisdictions, court proceedings are sometimes referred as arbitrations [ 3 ]), alternative dispute resolution, [ 4 ] expert determination, or mediation (a form of settlement negotiation facilitated by a neutral third party).
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: Arbitration is consensual
Oct 31, 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. Arbitration is most commonly used in the resolution of commercial.
Jun 4, 2022 · Introduction. Disputes happen frequently between parties in the world of business and in today’s fast-paced commercial world, time is nothing less valuable than money. Both parties suffer losses if the dispute becomes the victim of a long-drawn, complex court battle.
ARBITRATION meaning: 1. the process of solving an argument between people by helping them to agree to an acceptable…. Learn more.
Sep 19, 2023 · Arbitration, like mediation, provides an alternative to filing a lawsuit and going to court. Arbitration is usually a more streamlined and cost-conscious option for dealing with a legal issue. This article discusses when arbitration is an option, how it works, and how it differs from going to court.
Sep 4, 2018 · “Arbitration is a form of Alternative Dispute Resolution (ADR)”. The concept of arbitration means resolution of disputes between the parties at the earliest point of time without getting into the procedural technicalities associated with the functioning of a civil court.
