ARBITRATION

A B C D E F G H I J L M N O P Q R S T U V W Y Z
ARBITRATION — A form of alternative dispute resolution (ADR) where parties present their case to an impartial third party (arbitrator) rather than pursuing litigation in court. It is often faster and less expensive than a lawsuit. Arbitration can be binding or non-binding, and is frequently mandated by an arbitration clause in commercial and labor contracts.