There are typically seven stages of the arbitration process: Claimant Files a Claim. Respondent Submits Answer. Parties Select Arbitrators. Parties Attend Initial Prehearing Conference. Parties Exchange Discovery. Parties Attend Hearings. Arbitrators Deliberate and Render Award.
Arbitration is a form of dispute resolution. If two or more parties have a dispute which they cannot resolve themselves, instead of going to court, they might appoint a third person as an arbitrator to resolve the dispute for them by issuing an award.
Meaning of arbitration in English. the process of solving an argument between people by helping them to agree to an acceptable solution: Both sides in the dispute have agreed to go to arbitration (= to have the disagreement solved by an arbitrator).
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 is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitration award'.
Examples of arbitrate in a Sentence The council will arbitrate among the interest groups. arbitrate between managers and staff She will arbitrate the dispute.
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.
An arbitrator is the decision-maker in arbitration. He will ensure that the rules of arbitration are followed and will conduct the hearing in which he will hear testimony, receive and review evidence and assess the arguments of all parties to the dispute.
Examples of arbitrate in a Sentence The council will arbitrate among the interest groups. arbitrate between managers and staff She will arbitrate the dispute.
An arbitration clause forms the basis of the consent between investors and States that certain disputes are to be determined by arbitration. This consent is what gives rise to the jurisdiction of the arbitral tribunal. See also Jurisdiction of arbitral tribunals. 2.