Definition of 5) “Arbitration


5) “Arbitration means a process whereby a neutral third person or panel, called an arbitrator or an arbitration panel, considers the facts and arguments presented by the parties and renders a decision which may be binding or nonbinding.

Examples of 5) “Arbitration in a sentence

Costs of Arbitration, supra note 148, at 5 (“Arbitration was conceived as an expedited process that would reduce the costs of attorney fees and litigation ex- penses, more than offsetting the increased forum costs .