Arbitration Meaning and Definition
Arbitration
Pronunciation
/ˈɑrbətˌreɪʃən/
Part of Speech
Noun
Definition
The process of resolving disputes or settlement of differences between parties, using a neutral third-party decision-maker, rather than litigation in a court of law.
Etymology
The word “Arbitration” comes from the Latin “arbitrami”, meaning “to arbitrate” or “to judge”. It has been in use since the 15th century to describe the process of resolving disputes through a neutral third party.
Usage Notes
Arbitration is often used as an alternative to litigation, particularly in commercial disputes or international trade agreements. It can be used for disputes involving individuals, companies, or governments.
Cultural References
- In the TV show “The Good Wife”, arbitration is a recurring theme throughout the series, highlighting its importance in resolving complex disputes.
Idiomatic Expressions or Phrases
- “Take it to arbitration” – to resolve a dispute through arbitration rather than litigation.
Related Words or Phrases
- Mediation
- Litigation
- Settlement
Collocations
- Arbitration panel
- Arbitration agreement
- Arbitration process
Frequency of Use
Arbitration is a common practice in many industries and is used to resolve disputes worth billions of dollars each year.
Common Misspellings
Arbiteration, Arbitiment, Arbitare