What is the meaning of Arbitration?

Arbitration is a process where disputes are settled by referring them to a fair and neutral third party (arbitrator). The disputing parties agree in advance to agree with the decision of the arbitrator. There is a hearing where both parties have an opportunity to be heard, after which the arbitrator makes a decision.

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APABarry Goldsmith. (2010). arbitration. Retrieved September 21, 2026, from http://smartdefine.org/arbitration/definitions/1147785
ChicagoBarry Goldsmith. 2010. "arbitration" http://smartdefine.org/arbitration/definitions/1147785 (accessed September 21, 2026).
HarvardBarry Goldsmith 2010, arbitration, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/arbitration/definitions/1147785>.
MLABarry Goldsmith. "arbitration" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/arbitration/definitions/1147785>
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