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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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