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What (who) is Arbitration - definition

TECHNIQUE FOR THE RESOLUTION OF DISPUTES

Binding arbitration; Arbitrate; Arbitaration; Arbitration agreement; Arbitration enforcement; Mandatory binding arbitration; Arbitration law; Arbitration Law; Arbitration treaties of 1911; Arbitral proceeding

arbitration

¦ noun the use of an arbitrator to settle a dispute.

Derivatives

arbitrate verb

Origin

ME: from L. arbitratio(n-), from arbitrat-, arbitrari, from arbiter 'judge, supreme ruler'.

arbitration

n.

1) to conduct arbitration

2) to go to; resort to arbitration (the union and management went to arbitration; the dispute went to arbitration)

3) binding; voluntary arbitration

4) arbitration between; of

arbitration

n. a mini-trial, which may be for a lawsuit ready to go to trial, held in an attempt to avoid a court trial and conducted by a person or a panel of people who are not judges. The arbitration may be agreed to by the parties, may be required by a provision in a contract for settling disputes, or may be provided for under statute. To avoid clogged court calendars the parties often agree to have the matter determined by a panel such as one provided by the American Arbitration Association (which has a specific set of rules), a retired judge, some other respected lawyer, or some organization that provides these services. Usually contract-required arbitration may be converted into a legal judgment on petition to the court, unless some party has protested that there has been a gross injustice, collusion or fraud. Many states provide for mandatory arbitration of cases on a non-binding basis in the hope that these "mini-trials" (proceedings) conducted by experienced attorneys will give the parties a clearer picture of the probable result and lead to acceptance of the arbitrator's decision.

Wikipedia

Arbitration

Arbitration is a form of alternative dispute resolution (ADR) that resolves disputes outside the judiciary courts. The dispute will be decided by one or more persons (the 'arbitrators', 'arbiters' or 'arbitral tribunal'), which renders the 'arbitration award'. An arbitration decision or award is legally binding on both sides and enforceable in the courts, unless all parties stipulate that the arbitration process and decision are non-binding.

Arbitration is often used for the resolution of commercial disputes, particularly in the context of international commercial transactions. In certain countries such as the United States, arbitration is also frequently employed in consumer and employment matters, where arbitration may be mandated by the terms of employment or commercial contracts and may include a waiver of the right to bring a class action claim. Mandatory consumer and employment arbitration should be distinguished from consensual arbitration, particularly commercial arbitration.

There are limited rights of review and appeal of arbitration awards. Arbitration is not the same as: judicial proceedings (although in some jurisdictions, court proceedings are sometimes referred as arbitrations), alternative dispute resolution, expert determination, or mediation (a form of settlement negotiation facilitated by a neutral third party).

https://en.wikipedia.org/wiki/Arbitration

Examples of use of Arbitration

1. Jet contended that as per the arbitration agreement, the seat of arbitration would be Mumbai.

2. By Kokila Jacob, Staff Reporter Dubai ÷ Legal and arbitration experts attending an international maritime arbitration conference in Dubai have called for an independent arbitration law, fully supported by judges in UAE‘s courts.

3. International Arbitration: Corporate attitudes and practices 2006.

4. An arbitration court later annulled the contract.

5. In 1''1, the province of Ontario implemented the Arbitration Act, which allowed for arbitration of civil disputes by a third party.