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Arbitration Definition

By Elizabeth

What is Arbitration? What does Arbitration mean?

Arbitration occurs when a dispute arises between two or more individuals or parties and requires resolution by an impartial individual. The process of resolving the disagreement is known as arbitration, and the impartial individual is known as the arbitrator. Arbitration is a smart option if the disputing parties wish to avoid the cost and hassle of the courtroom.

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American Arbitration Association Definition

By Elizabeth

What is the American Arbitration Association?

A 75-year old organization that serves to assist in the resolution of disputes through mediation, arbitration, elections, and other non-trial settlement procedures. Also called the AAA, this organization offers alternative dispute resolution, and provides their services outside of court for individuals or businesses that wish to resolve a conflict. This organization is impartial and attempts to assist individuals and businesses in settling their disputes outside of the courtroom.

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