Arbitrate GRE Vocabulary Flashcard
Table of Contents
to judge and settle dispute between opposing people or groups, intervene, pass judgement, adjudge, adjudicate, moderate, rule, determine, sort out, intercede, intermediate, decide, referee
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
Arbitration can only take place if both parties have agreed to it. In the case of future disputes arising under a contract, the parties insert an arbitration clause in the relevant contract. An existing dispute can be referred to arbitration by means of a submission agreement between the parties. In contrast to mediation, a party cannot unilaterally withdraw from arbitration.
Parts of speech