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Definition of Arbitration

Babylon English

mediation, settling of a dispute through a mutually chosen mediator
Arbitration Definition from Language, Idioms & Slang Dictionaries & Glossaries
Webster's Revised Unabridged Dictionary (1913)
The hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.
Webster's Revised Unabridged Dictionary (1913), edited by Noah Porter. About
hEnglish - advanced version

\ar`bi*tra"tion\ (&?;), n. [f. arbitration, l. arbitratio, fr. arbitrari.] the hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.
note: this may be done by one person; but it is usual to choose two or three called arbitrators; or for each party to choose one, and these to name a third, who is called the umpire. their determination is called the award.
bond, a bond which obliges one to abide by the award of an arbitration.
of exchange, the operation of converting the currency of one country into that of another, or determining the rate of exchange between such countries or currencies. an arbitrated rate is one determined by such arbitration through the medium of one or more intervening currencies.

  similar words(2) 

 arbitration of exchange 
 arbitration bond 
WordNet 2.0

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)
(hypernym) mediation
(derivation) intercede, mediate, intermediate, liaise, arbitrate
(classification) law, jurisprudence
2. the act of deciding as an arbiter; giving authoritative judgment; "they submitted their disagreement to arbitration"
(synonym) arbitrament, arbitrement
(hypernym) judgment, judgement, judicial decision
(derivation) intercede, mediate, intermediate, liaise, arbitrate
Arbitration Definition from Business & Finance Dictionaries & Glossaries
BASSAM Trade, Real Estate, Mortgage, Fund,Invest, Insurance,& Tax,Terms/abbreviations/defin.
The process of submitting a dispute to an independent expert for a decision. Usually both parties agree to abide by the decision made in the arbitration process. Example: A dispute between labor and management.
A Guide to Futures and Options Market Terminology : English-English
The procedure available to customers for the settlement of disputes. Brokers and exchange members are required to participate in arbitration to settle disputes. Arbitration is available through the exchanges, the NFA, and the CFTC.
Arbitration Definition from Computer & Internet Dictionaries & Glossaries
SAN Acronyms
A method of gaining orderly access to a shared-loop topology.
Arbitration Definition from Encyclopedia Dictionaries & Glossaries
English Wikipedia - The Free Encyclopedia
Arbitration, a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the courts. The parties to a dispute refer it to arbitration by one or more persons (the "arbitrators", "arbiters" or "arbitral tribunal"), and agree to be bound by the arbitration decision (the "award"). A third party reviews the evidence in the case and imposes a decision that is legally binding on both sides and enforceable in the courts.

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Arbitration Definition from Law Dictionaries & Glossaries
The 'Lectric Law Library
A method of alternative dispute resolution in which the disputing parties agree to abide by the decision of an arbitrator(s).

The submission of a dispute to an impartial third person or persons. The arbitrator or arbitrators are selected directly by the parties or are chosen in accordance with the terms of a contract in which the parties have agreed to use a court-ordered arbitrator or an arbitrator from the American Arbitration Association. If there is no contract, usually each party chooses an arbitrator and the two arbitrators select a third. When parties submit to arbitration, they agree to be bound by and comply with the arbitrators' decision. The arbitrators' decision is given after an informal proceeding where each side presents evidence and witnesses.

Some arbitration proceedings are mandatory (enforced by statute), such as many labor disputes. Other arbitration proceedings are selected in advance and written into contracts. In fact, many couples who sign cohabitation agreements or divorce agreements include a clause agreeing to go to arbitration if any dispute should arise, thereby avoiding the delay, expense, bitterness and formality of litigation. Other arbitration proceedings are chosen by the disputing parties after the conflict arises, but are also to avoid the delay, expense, bitterness and formality of courts.
Courtesy of the 'Lectric Law Library. Legal Dictionary
An agreement to submit a dispute for a hearing and binding decision by a third-party, an arbitrator(s), who is neither a judge or a Court - (read more on Arbitration)
2008 All rights reserved. Dictionary
a legally binding, but not a judicial procedure. When a neutral third party makes judgment on a case. This is not permitted in most states or provinces.
A legally binding non-judicial procedure held before a neutral third party,the "arbitrator," who acts as private judge. Unlike mediation, neither party can unilaterally terminate the process, and both parties are bound by the arbitrator’s decision, as if a judge acted in her official capacity. In some states, judges refer certain cases or aspects of cases for arbitration.
Massachusetts Divorce Law Dictionary
A legally binding, non-judicial procedure held before a neutral third party, the "arbitrator," who acts as private judge; not available for Massachusetts divorces.
European Commission Glossary of Justice and home affairs
Intervention of a third party to solve a civil or commercial dispute under the alternative dispute resolution methods being developed by the EU. (See judicial-civil)
© European Communities, 1995-2004
Canadian Insolvency Dictionary
A dispute resolution mechanism, whereby an independent neutral third party is appointed to hear and consider the merits of the dispute, and who renders a final and binding decision called an award.
Arbitration Definition from Sports Dictionaries & Glossaries
Method of settling disputes which is usually binding on parties. A clause usually in a charter party