Arbitration (Def 1)
Law
The use of an arbitrator to settle a dispute
Arbitration (Def 2)
Construction
The binding resolution of disputes by one or more neutral persons (usually called “arbitrators”), as a substitute for judicial pro- ceedings; may be invoked only by agreement of
Arbitration (Def 3)
Business
A method of settling a dispute between two parties who have failed to agree on some matter. With the agreement of both parties to abide by the arbiter’s decision the dispute is put before a neutral third party, usually an independent body, for adjudication outside a court of law. Argyris, Chris (1923– ) An American psychologist and specialist in