arbitration — English Dictionary

Noun

1. The act or process of arbitrating.

   Usage

   • Countable
   • Uncountable

2. A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.

   Usage

   • Countable
   • Uncountable

3. In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.

   Usage

   • Countable
   • Uncountable

Noun

1. (law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)

   Broader terms

   mediation

2. the act of deciding as an arbiter; giving authoritative judgment

   Synonyms

   arbitramentarbitrement

   Broader terms

   judgmentjudgementjudicial decision

   Examples

   they submitted their disagreement to arbitration