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Glossary   >   A   >   "Arbitration" Definition            Arbitration An informal hearing held regarding a dispute. The dispute is judged by a group of people (generally three) who have been selected by an impartial panel. Once a decision has been reached, there is no further appeal process. A means of arriving at an acceptable agreement between two disputing parties. An independent person or body hears the arguments of both parties and makes a decision that is then binding on all concerned. Often conducted by members of the Institute of Arbitrators. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Arbitration - An informal hearing held regarding a dispute. The dispute is judged by a group of people (generally three) who have been selected by an impartial panel. Once a decision has been reached, there is no further appeal process.

A means of arriving at an acceptable agreement between two disputing parties. An independent person or body hears the arguments of both parties and makes a decision that is then binding on all concerned. Often conducted by members of the Institute of Arbitrators.