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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 of "arbitration". A quick and less formal method of settling disputes outside of court where an arbitrator or a panel of them listens to evidence and makes a decision. How to use "arbitration" in a sentence. The company recommended arbitration to settle the dispute quickly.
- Why You Need to Consider Arbitration
- Federal and State Laws on Arbitration
- How Arbitration Is Done
- Forms of Arbitration
- Advantages of Arbitration
- Disadvantages of Arbitration
The concept of arbitration gained traction in the business world because of expenses and delays involved in formal court processes. The idea is to settle disputes quickly without incurring a lot of costs. Arbitration typically begins when the disputing parties agree to the process. This agreement may have been made before the dispute arises through...
The Federal Arbitration Act (FAA) sets the standards for arbitration in the U.S. Although some states have laws that may in some cases conflict with the FAA, most states have streamlined their laws to mirror the act. For arbitration to be valid, the following conditions must be met: 1. All the parties to the dispute must agreeto the process. 2. Cou...
A person or body that presides over the arbitration process is called the arbitrator. Usually, the arbitrator consists of a tribunal of members. The tribunal or arbitrator can be appointed by any of the three methods: 1. Directly. The disputing parties may directly choose the arbitrator. In this case, both parties must consent to the choice of arbi...
Commerical arbitrationis normally for enterprise disputes.Consumer arbitrationis for disputes between a goods supplier and a consumer.Labor arbitration is done in disputes arising from employment. Labor arbitration may be about employee grievances or interests.It can be tailored to the needs of the disputing parties. The parties can choose a technical expert for technical disputes, which courts cannot do.It is fast and saves the disputing parties a lot of time. The arbitration process is normally completed in a fraction of the time it would take courts to finish hearings and deliver a verdict.Normally, decisions reached through arbitration are binding and they are no lengthy appeal processes.It is confidential and will help protect the privacy of the disputing parties.The costs involved in arbitration are normally covered by the disputing parties. Although arbitration is meant to save costs, settling some cases through arbitration may cost more than through a co...Unlike courts, some decisions made by arbitrators are intended to please both sides, which means justice is sometimes not served.In English, arbitration is both the process of using an arbiter to settle a dispute and the act of that arbiter making a judgment. Many parents know that if the arbitration of your kids' argument was deemed unfair by both kids, you've usually made the right decision.
Arbitration definition: the hearing and determining of a dispute or the settling of differences between parties by a person or persons chosen or agreed to by them. See examples of ARBITRATION used in a sentence.
Arbitration is one of the alternative ways to end a civil legal dispute, giving you and the other party the opportunity to resolve the issue outside of a courtroom and avoid litigation. The process of arbitration generally consists of: Choosing a neutral third party, known as the arbitrator, to hear the issue.
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5 days ago · arbitration in British English. (ˌɑːbɪˈtreɪʃən ) noun. 1. law. the hearing and determination of a dispute, esp an industrial dispute, by an impartial referee selected or agreed upon by the parties concerned. 2. international law. the procedure laid down for the settlement of international disputes. Collins English Dictionary.
Arbitration refers to an alternative dispute resolution method where the parties in dispute agree to have their case heard by a qualified arbitrator out of court. Under the Federal Arbitration Act, decisions reached through arbitration are... arbitrator.
