arbitration


arbitration
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. The CENTER ONLINE Futures Glossary
————
A low cost method of solving disputes, see full arbitration and Consumer Arbitration Scheme. Dresdner Kleinwort Wasserstein financial glossary

* * *

arbitration ar‧bi‧tra‧tion [ˌɑːbˈtreɪʆn ǁ ˌɑːr-] noun [uncountable]
1. LAW when a legal disagreement is dealt with by independent officials who have the authority to make a legal decision about it, rather than the case being dealt with in a court of law:

• Disputes within the partnership can be referred to arbitration, avoiding the risks and costs of litigation.

2. HUMAN RESOURCES when a disagreement between an employer and employees is dealt with by independent officials who try to reach an agreement between both sides in order to prevent a strike or a legal battle:

• Contract negotiations between them have reached deadlock and are likely to go to arbitration.

• The arbitration agreement only applied to the missing oil, not to the other allegations of wrongdoing.

* * *

arbitration UK US /ˌɑːbɪˈtreɪʃən/ noun [U]
LAW a process in which an independent person makes an official decision that ends a legal disagreement without the need for it to be solved in court: »

Arbitration is often preferred by firms in business disputes.

»

binding/mandatory arbitration

»

The Texas high court said they had to go to arbitration because that's what the signed contract required.

»

The dispute is in arbitration.

HR a process in which an independent official tries to avoid a strike (= situation in which workers stop working as a protest) by having discussions that end a disagreement between the workers and their employer: »

Pension contribution levels have been fixed by collective bargaining and labor arbitration.


Financial and business terms. 2012.

Synonyms:

Look at other dictionaries:

  • arbitration — arbitrage (франц.) = Schiedsgerichtsbarkeit (нем.) арбитраж, разрешение спора нейтральным лицом или органом, полномочия которого основаны на арбитражном соглашении (arbitration agreement) и чье решение носит окончательный и обязательный характер …   Glossary of international commercial arbitration

  • Arbitration — • A method of arranging differences between two parties by referring them to the judgment of a disinterested outsider whose decision the parties to a dispute agree in advance to accept as in some way binding Catholic Encyclopedia. Kevin Knight.… …   Catholic encyclopedia

  • arbitration — ar·bi·tra·tion /ˌär bə trā shən/ n [Latin arbitratio, from arbitrari to judge, arbitrate, from arbiter onlooker, arbitrator]: the process of resolving a dispute (as between labor and management) or a grievance outside of the court system by… …   Law dictionary

  • ARBITRATION — ARBITRATION, method of settling disputes by their submission, voluntarily and with the mutual consent of all parties, for adjudication by a person or institution. Function of Arbitration In ancient Greek and Roman law – up to the middle of the… …   Encyclopedia of Judaism

  • Arbitration — 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. [1913 Webster] Note: This may be done by one person; but it… …   The Collaborative International Dictionary of English

  • Arbitration — steht für einen juristischen Vermittlungsvorgang, siehe Schiedsverfahren, bzw. die verwandte Mediation eine elektronische Schaltung, siehe Arbiter Diese Seite ist eine Begriffsklärung zur Unterscheid …   Deutsch Wikipedia

  • arbitration — 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. (Dictionary of Canadian Bankruptcy Terms) United …   Glossary of Bankruptcy

  • arbitration — ⇒ARBITRATION, subst. fém. JURISPR. ,,Estimation faite en gros et sans entrer dans le détail. (Ac. 1835, 1878). Rem. Noté comme ,,peu usité par Ac. 1835 et 1878, ainsi que par GUÉRIN 1892 et QUILLET 1965, vieilli par BESCH. 1845, ,,vieux par Lar.… …   Encyclopédie Universelle

  • arbitration — ARBITRATION. s. fém. Terme de Jurisprudence. Estimation …   Dictionnaire de l'Académie Française 1798

  • arbitration — (n.) late 14c., absolute decision, from O.Fr. arbitracion, from L. arbitrationem (nom. arbitratio) judgment, will, noun of action from pp. stem of arbitrari to be of an opinion, give a decision, from arbiter (see ARBITER (Cf. arbiter)). Meaning… …   Etymology dictionary

  • arbitration — [n] settlement of dispute adjudication, adjustment, agreement, compromise, decision, determination, judgment, mediation; concepts 126,300 …   New thesaurus