What does arbitration mean?

Looking for the meaning or definition of the word arbitration? Here's what it means.

Noun The act or process of arbitrating. A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute. In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute. Find more words! 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Industrial action should not be used on rights issues at all because arbitration or adjudication can test the correctness of these decisions. That little pamphlet might be worth a second look, especially if it talks about arbitration or alternative dispute resolution. But people are looking for a revitalisation of arbitration with a fixed timetable as a result of their experience with adjudication. The parties agreed to refer their dispute to one Rabbi Rosner for mediation and arbitration. In an effort to jump-start stalled talks, federal mediators have offered binding arbitration to Northwest Airlines and the company's mechanics. See Also What is another word for arbitration? What is the opposite of arbitration? Sentences with the word arbitration Words that rhyme with arbitration What is the plural of arbitration? What is the adverb for arbitration? What is the adjective for arbitration? What is the noun for arbitration? Translations for arbitration Nearby Definitions arbitrating arbitrates arbitrated arbitrate arbitrary arbitrarity arbitrational arbitrations arbitrator arbitrators arbitratour arbitratours 11-letter Words Starting With a ar arb arbi arbit arbitr arbitra arbitrat arbitrati arbitratio