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| :''For arbitration on wikipedia, see ].'' | |||
| '''Arbitration''' is a ] technique for the resolution of ]s outside the ]s, wherein the parties to a dispute refer it to one or more persons (the "]s" or "arbitral tribunal"), by whose decision (the "]") they agree to be bound. ], the term is also used to refer to ], a process in which the final award does not bind the parties. | '''Arbitration''' is a ] technique for the resolution of ]s outside the ]s, wherein the parties to a dispute refer it to one or more persons (the "]s" or "arbitral tribunal"), by whose decision (the "]") they agree to be bound. ], the term is also used to refer to ], a process in which the final award does not bind the parties. | ||
Revision as of 07:49, 26 September 2006
- For arbitration on wikipedia, see Misplaced Pages:Arbitration Committee.
Arbitration is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators" or "arbitral tribunal"), by whose decision (the "award") they agree to be bound. In the United States, the term is also used to refer to non-binding arbitration, a process in which the final award does not bind the parties.
Arbitration is today most commonly used for the resolution of commercial disputes, particularly in the context of international commercial transactions. It is also used in some countries to resolve other types of disputes, such as labour disputes, consumer disputes or family disputes, and for the resolution of certain disputes between states and between investors and states.
See also
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