Definition of Arbitration:
Arbitration is a method of resolving disputes between investors and brokers or between brokers. It is overseen by the Financial Sector Regulatory Authority (FINRA) and decisions are final and binding. Arbitration is different from arbitration, where the parties negotiate a voluntary agreement and the decision is binding only if all parties agree.
Arbitration is not the same as filing an investor's complaint in which the investor is accused of fraud by the broker, but there is no specific dispute with the broker for which the investor seeks redress. ۔
Resolving disputes (realistic, legal or procedural) between parties to a contract by an impartial third party (arbitrator) without legal action. Mediation is usually voluntary, but is sometimes required by law. If both parties agree to be bound by the arbitrator's decision (punishment), the arbitration will be bound. Appropriate procedures (if not included in a disputed agreement) are usually governed by the arbitration laws of a country or the arbitration laws recommended by the International Chamber of Commerce (ICC).
Use of mediators to resolve disputes.
Synonyms of Arbitration
Conciliation, Intervention, Peacemaking, Mediation, Mediatorship, Interposition, Interceding, Adjudication, Negotiation
How to use Arbitration in a sentence?
- Arbitration is not the same as filing an investor's complaint.
- To resolve the divorce, the couple agreed to mediate to divide their assets, investments and personal property.
- Because of the cost and time savings for all parties involved, arbitration is better than litigation.
- The Tieside Regional Council requested mediation to resolve the dispute.
- For disputes between 50,000 and 100,000, face-to-face hearings with arbitration are required.
- Jack and Joe can't resolve their differences, but they don't want to go to court. Therefore, they decided to go through arbitration and accept the decision of a neutral third party.
- Personal examination is not required for disputes over 50,000.
- Unable to resolve their contract dispute, they take their case to arbitration and agree to follow the referee's statement.
Meaning of Arbitration & Arbitration Definition