Legal definition of arbitration
Dispute Resolution Legal Terminology

arbitration

1
Arbitration is a method of dispute resolution out of the court. The parties to a conflict agree to be bound by a decision made by an arbiter, an independent third party or a panel of arbiters.

The arbitration may be voluntary as well as statutory, or mandatory by the terms of the contract.

The decision of an arbitrator is as binding on the parties to the arbitration as a court judgment, and it can be enforced by the courts, if necessary.

Arbitration differs from mediation in that once you enter the arbitration process, you are bound by the arbitrator's decision. Mediation is a negotiation process, in which the mediator helps the parties negotiate a mutually acceptable solution.

Because arbitration is a private method of settling disputes, parties can tailor the arbitration proceeding in almost any manner they choose. For example, parties involved in arbitration can agree to limit the number of witnesses each side will present, set parameters on the amount and type of evidence that will be presented, and pre-determine what issues the arbitrator's award should cover.

Source: United States Arbitration & Mediation
Find a legal term by clicking on the first letter of a legal word or phrase:
Book of the Day in our Store
Share it on TwitterFacebook
International Tax as International Law: An Analysis of the International Tax Regime (Cambridge Tax Law Series)International Tax as International Law: An Analysis of the International Tax Regime (Cambridge Tax Law Series)
by Reuven S. Avi-Yonah
  • Price: $45.99
from $38.74
View
Making the Property Tax Work: Experiences in Developing and Transitional CountriesMaking the Property Tax Work: Experiences in Developing and Transitional Countries
by
  • List Price: $30.00
  • Price: $20.90
  • You Save: $9.10 (30%)
from $5.69
View
Michelle J FiskAttorney at LawPRACTICE AREA: Bankruptcy Law, Business Law, Workers Compensation
George N KechesAttorney at LawPRACTICE AREA: Personal Injury, Elder Law, Workers Compensation
Stuart W BensonAttorney at LawPRACTICE AREA: Labor & Employment Law, Workers Compensation
Ladysmith ChronicleB.C.'s online Civil Resolution Tribunal has been resolving strata property disputes since last summer, and on June 1 it will expand to take on small claims disputes involving less than $5,000. “This is the first online dispute resolution service in the ... more »
Business Wire (press release)As well as being recognized as the top alternative dispute resolution provider in the United States for three of the last four years, NAM was ranked the #1 ADR firm by the New York Law Journal Annual Reader Rankings Survey for the last six years with 9 ... more »
The WireThe word 'mediation' comes from the Latin word 'mediare', which means 'to be in the middle'. According to Black's Law Dictionary, mediation is defined as “a method of non-binding dispute resolution involving a neutral third party who tries to help the ... more »
It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content