Arbitration
volume
British pronunciation/ˌɑːbɪtɹˈe‍ɪʃən/
American pronunciation/ˌɑɹbɪˈtɹeɪʃən/

Definition & Meaning of "arbitration"

Arbitration
01

the process in which a person is officially appointed to act as a judge and settle an argument

02

a process where parties resolve disputes through a neutral third party

example
Example
examples
The arbitration board will decide the dispute between the two parties.
The lawyer advised arbitration as a means to resolve the dispute amicably.
The consumer opted for arbitration instead of pursuing a lawsuit against the product manufacturer for damages.
The matter was resolved judicially through arbitration rather than a traditional court trial.
The landlord and tenant turned to arbitration to resolve issues related to lease terms and rental payments.
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