arbitration
Definition
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.
Use arbitration in a sentence
“ There was an arbitration clause in the contract making it necessary to seek out a mediator before going to an attorney to settle disputes. ”
“ By settling disputes via arbitration, parties involved in costly and time consuming litigation issues can resolve issues without the need to escalate matters toward the civil courts systems. ”
“ Lucy hated having to enact arbitration to close a deal between the seller and buyers when terms of purchase reached a deadlock from inadequate representation of one of the parties involved. ”
