arbitration

IPA: ɑrbɪtrˈeɪʃʌn

The act or process of arbitrating.
A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.
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.

Examples of "arbitration" in Sentences

The arbitration committe is overworked.
It is beyond the scope of the arbitration.
The function of arbitration is not to interrogate the arbitrators.
A problem with illegal arbitration is that it can't be held up for public scrutiny.
Why should an investor in arbitration have to conduct research to find this declaration?
The problem with mafia or gang arbitration is not that it lacks the backing of the government.
There has been some uncertainty as to whether arbitration is a valid method for resolving these cases.
Starting next year we will be offering an LL.M. concentration in arbitration as part of our comparative and international LL. M programs.
"Even with an all-public panel, arbitration is still an opaque process," according to a source inside FINRA, the brokerage industry's bought-and-paid-for "overseer."
The term "arbitration" is here used presumably in the French sense, to cover all kinds of settlement before a tribunal involving positive compliance with the decision or award.
International arbitration is something of a poor stepchild in the US academy – we in the US are neither the primary users of it nor do we supply a particularly large share of the leading advocates (at least in private law), arbitrators, or scholars – although we do have a few domestic stars.