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Home > QFINANCE Dictionary > Definition of Advisory, Conciliation and Arbitration Service

Definition of

Advisory, Conciliation and Arbitration Service

Business

UK organization resolving workplace disputes in the United Kingdom, a public body, funded by taxpayers, that aims to prevent and resolve problems between employers and their workforces. The government established the first voluntary conciliation service in 1896, but the modern ACAS was founded in 1974 when the organization moved away from government control and became independent. It hosted talks between opposing sides in many of the high-profile labor disputes in the 1970s and 1980s, including the miners' strike in 1984.

Related definitions of "Advisory, Conciliation and Arbitration Service"

Recommended Further Reading (Term count)
  • Arbitration
    Arbitration is an alternative to litigation. Its purpose is to resolve a dispute without resorting to expensive litigation within the court system.Arbitration is typically used in commercial disputes, especially at an international level. In the contract they enter into, the parties should specify the way in which they will deal with any dispute resulting from the contract or its breach. Arbitration is usually the means of solving a commercial...

Definitions of ’Advisory, Conciliation and Arbitration Service’ and meaning of ’Advisory, Conciliation and Arbitration Service’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’Advisory, Conciliation and Arbitration Service’ and other financial terms with our online QFINANCE Financial Dictionary.

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