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Finance Dictionary and Glossary of Investment Terms
Arbitration
Definition 1.
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.
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Definition 2.
A process in which a disagreement between two or more parties is resolved by impartial individuals, called arbitrators, in order to avoid costly and lengthy litigation.
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Definition 3.
A method where conflict between two or more parties is resolved by impartial persons - arbitrators - who are knowledgeable in the areas in controversy. (See mediation)
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