arbitration Definition
the process of resolving a dispute or a disagreement between two or more parties outside of the court system, where an impartial third party makes a decision that is legally binding.
Using arbitration: Examples
Take a moment to familiarize yourself with how "arbitration" can be used in various situations through the following examples!
Example
The company and the union agreed to submit their dispute to arbitration.
Example
The contract includes an arbitration clause that requires any disputes to be resolved through arbitration rather than litigation.
Example
The arbitrator's decision is final and binding on both parties.
arbitration Synonyms and Antonyms
Synonyms for arbitration
Phrases with arbitration
baseball arbitration
a form of arbitration used in baseball salary negotiations, where each side submits a salary figure and the arbitrator chooses one of the two figures with no other options
Example
The player and the team were unable to agree on a salary, so they went to baseball arbitration to settle the matter.
a form of arbitration where each party submits a final offer and the arbitrator chooses one of the two offers with no modifications
Example
The union and the management were deadlocked in their negotiations, so they agreed to use final offer arbitration to resolve the dispute.
arbitration between parties from different countries, governed by international law
Example
The contract included a clause requiring any disputes to be resolved through international commercial arbitration.
Origins of arbitration
from Latin 'arbitrari', meaning 'to give judgment'
Summary: arbitration in Brief
Arbitration [ˌɑːrbɪˈtreɪʃən] is a process of resolving disputes between two or more parties outside of the court system. An impartial third party makes a decision that is legally binding. Examples include baseball arbitration, where each side submits a salary figure, and final offer arbitration, where each party submits a final offer. International commercial arbitration is arbitration between parties from different countries, governed by international law.
