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Definition of


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process of resolving disagreement by unbiased person the settlement of a dispute by an independent third person, rather than by a court of law. Arbitration allows for claims or grievances to be settled quickly, cost-effectively, privately, and by somebody who is suitably qualified. A contract may include an arbitration clause to be invoked in the case of a dispute.

Related definitions of "arbitration"

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

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