What is the simple meaning of arbitration?
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
What does word arbitrator mean?
one that arbitrates a dispute
Definition of arbitrator : one that arbitrates a dispute : arbiter an impartial arbitrator.
What is the root word of arbitration?
We trace it to the Latin root with the same spelling, arbiter, meaning “eyewitness, onlooker, person appointed to settle a dispute.” A number of English words stem from the Latin arbiter, many of which have to do with judging or being a judge.
How do you use the word arbitration?
1 The dispute is going to arbitration . 2 Both sides have agreed that the arbitration will be binding. 3 The judge said that arbitration was a fair and expeditious decision-making process. 4 The wage disagreement is under arbitration.
What is arbitration money?
Ans. Arbitration is a quasi-judicial process of settlement of disputes between trading members, investors, clearing members, sub-brokers, authorized persons etc.
What happens arbitration?
Arbitration is an out-of-court method for resolving a dispute between a worker and an employer. Arbitration takes place in front of a neutral decision-maker called an “arbitrator” (or in some cases, a group or “panel” of arbitrators) who will listen to each side and make a decision about the case.
What does full arbitration mean?
Arbitration is a process in which two parties in a dispute use an independent, impartial third party to settle the dispute, often by making a decision that they both agree to. For a process to be considered arbitration, it must involve an impartial third party, which can be a single person or a team of people.
What is the synonym of arbitration?
In this page you can discover 17 synonyms, antonyms, idiomatic expressions, and related words for arbitration, like: negotiation, conciliation, dispute, arbitrament, arbitrement, adjudication, adr, mediation, arbitral, arbitrator and tribunal.
What is arbitration with a bank?
This means that any disputes between customers and banks over account fees, identity theft, or other charges will be decided by an arbitrator that the bank helps choose, rather than an impartial judge.
Does arbitration mean settlement?
Arbitration is the process of using a third party to settle a dispute instead of taking the case to court. Both sides rely on the arbitrator – an unbiased individual or panel – to come to an appropriate decision based on the facts of the case. The resulting judgement is called an arbitration award.
What type of law is arbitration?
Arbitration, a form of alternative dispute resolution (ADR), is a way to resolve 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’.
What is the opposite of arbitration?
Opposite of the act of making a judgment or decision, especially as an arbiter. disagreement. indecision. argument. provocation.
What is the difference between a mediator and an arbitrator?
Arbitrator listens to facts and evidence and renders an award. Mediator helps the parties define and understand the issues and each side’s interests. Parties present case, testify under oath. Parties vent feelings, tell story, engage in creative problem-solving.