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Jun 4, 2022 · Arbitration is outside the court settlement of a dispute by one or more (odd number) persons who are appointed as arbitrators by both the parties. According to Section 2(1)(a) of the Arbitration and Conciliation Act, 1996 “Arbitration means any arbitration whether or not administered by permanent arbitral institution”.
Nov 10, 2014 · Arbitration is a form of Alternative Dispute Resolution in which the parties work out the disputed issue without going to court. An impartial third party, known as an Arbitrator, is chosen by the parties to listen to their case and make a decision.
ARBITRATION definition: 1. the process of solving an argument between people by helping them to agree to an acceptable…. Learn more.
Contract law. Arbitration is a formal method of dispute resolution involving a neutral third party who makes a binding decision. The third party neutral (the 'arbitrators', 'arbiters' or ' arbitral tribunal ') renders the decision in the form of an ' arbitration award '. An arbitration decision or award is legally binding on both sides and ...
Jun 7, 2024 · arbitration, nonjudicial legal technique for resolving disputes by referring them to a neutral party for a binding decision, or “award.” An arbitrator may consist of a single person or an arbitration board, usually of three members.
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. Its principal characteristics are: Arbitration is consensual
Sep 19, 2023 · Arbitration, like mediation, provides an alternative to filing a lawsuit and going to court. Arbitration is usually a more streamlined and cost-conscious option for dealing with a legal issue. This article discusses when arbitration is an option, how it works, and how it differs from going to court.
The meaning of ARBITRATION is the action of arbitrating; especially : the hearing and determination of a disputed case by an arbiter. How to use arbitration in a sentence. Are arbiter and arbitration arbitrary?
Arbitration definition: the hearing and determining of a dispute or the settling of differences between parties by a person or persons chosen or agreed to by them. See examples of ARBITRATION used in a sentence.
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). SMART Vocabulary: related words and phrases. Debate & discussion. agent provocateur. agora. argue against something.
