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The process of settling a dispute or reaching an agreement between two parties through the intervention of a third party.
synonyms:mediationconciliation
The word 'arbitration' comes from the Latin 'arbitratio', which means 'to judge or decide'. It has been used in English since the late Middle Ages to describe the resolution of disputes outside of court.
Arbitration is typically used in legal contexts, particularly in business and labor disputes, but it can also apply to personal disagreements.
While not used in everyday conversation, 'arbitration' is common in legal and business discussions.
The contract included a clause that required arbitration for any disputes that arose.
After several months of negotiations, the couple decided to seek arbitration to resolve their differences amicably.
Many companies prefer arbitration to litigation because it is usually faster and less expensive.
Arbitration is a fascinating process that serves as a bridge between conflict and resolution. Originating from the Latin word 'arbitratio', it has been a method for settling disputes for centuries. While it may sound formal and legalistic, arbitration can often provide a more relaxed and private environment for parties to come to an agreement. Whether in business, labor relations, or personal matters, arbitration helps keep disagreements out of court and encourages collaboration.