Definitions

1. noun

the process of settling a dispute or conflict by a third party

“The company chose arbitration to resolve the labor dispute.”

2. noun

a person or group appointed to settle a dispute or conflict

“The arbitration panel was tasked with resolving the environmental issue.”

3. noun

a method of settling disputes or conflicts

“Arbitration is a common method used in business disputes.”

4. verb

to settle a dispute or conflict by a third party

“The parties agreed to arbitrate the dispute rather than going to court.”