From Longman Dictionary of Contemporary Englisharbitrationar‧bi‧tra‧tion /ˌɑːbəˈtreɪʃən $ ˌɑːr-/ noun [uncountable] JUDGEthe process of judging officially how an argument should be settled The dispute is going to arbitration (=someone is being asked to arbitrate). Both sides in the dispute have agreed to binding arbitration.
Examples from the Corpus
arbitration• George Hood, economic development convener on Tayside Regional Council, called for arbitration to settle the dispute.• These are the dark victories you win in arbitration.• I want to ensure that, in pursuing cost-effectiveness, there is independent arbitration on quality.• The case has been submitted for international arbitration.• Indeed, only five out of the 330 complaints brought since the scheme started have required arbitration.• In the arbitration, the state was repulsively sanctimonious.• Both parties agreed to go to arbitration in order to avoid more strikes by the workers.• The king, however, also had reason to conciliate the Stanleys and in 1472 the matter went to arbitration.binding arbitration• The Teamsters do not have the usual grievance-step procedure, ending in a final, binding arbitration by a neutral third party.• But they are resisting pressure to refer the disputed 6.5 percent pay rise to independent binding arbitration.• Then, Clinton also intervened, without appointing an emergency board, by appealing to both parties to agree to binding arbitration.• The school district and teachers agreed to binding arbitration.From Longman Business Dictionaryarbitrationar‧bi‧tra‧tion /ˌɑːbəˈtreɪʃənˌɑːr-/ noun [uncountable]1LAW when a legal disagreement is dealt with by independent officials who have the authority to make a legal decision about it, rather than the case being dealt with in a court of lawDisputes within the partnership can be referred to arbitration, avoiding the risks and costs of litigation.2HUMAN RESOURCES when a disagreement between an employer and employees is dealt with by independent officials who try to reach an agreement between both sides in order to prevent a STRIKE or a legal battleContract negotiations between them have reached deadlock and are likely to go to arbitration.The arbitration agreement only applied to the missing oil, not to the other allegations of wrongdoing. 