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(Ticaret) arbitration

the act or process of arbitrating

Arbitration is the judging of a dispute between people or groups by someone who is not involved. The matter is likely to go to arbitration. the process of judging officially how an argument should be settled. Process of resolving a dispute or a grievance outside a court system by presenting it for decision to an impartial third party. Both sides in the dispute usually must agree in advance to the choice of arbitrator and certify that they will abide by the arbitrator's decision. In medieval Europe arbitration was used to settle disputes between merchants; it is now commonly used in commercial, labour-management, and international disputes. The procedures differ from those used in the courts, especially regarding burden of proof and presentation of evidence. Arbitration avoids costly litigation and offers a relatively speedy resolution as well as privacy for the disputants. The main disadvantage is that setting guidelines is difficult; therefore the outcome is often less predictable than a court decision. See also mediation

The referral of a dispute to one or more impartial persons for final and binding determination

The process of settling disputes between parties NFA's arbitration program provides a forum for resolving futures-related disputes between members or between members and customers

(law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)

A process where disputes are settled by referring them to an impartial third party (arbitrator) chosen by the disputing parties who agree in advance to abide by the decision of the arbitrator There is a hearing where both parties have an opportunity to be heard, after which the arbitrator issues the decision

The referral of a dispute to an impartial third person chosen by the parties to the dispute The parties agree in advance to abide by the arbitrator's decision following a hearing at which both parties have an opportunity to be heard

A method where conflict between two or more parties is resolved by impartial persons - arbitrators - who are knowledgeable in the areas in dispute

The settling of disputes between parties who agree not to go before the courts, but rather agree to accept as final the decision of experts of their choice, in a place of their choice, usually subject to laws agreed upon in advance and usually under rules which avoid much of the formality and niceties of proof and procedure required by the courts See Tetley, Int'l C of L , 1994 at pp 389-419

A dispute resolution mechanism, whereby an independent neutral third party is appointed to hear and consider the merits of the dispute, and who renders a final and binding decision called an award

In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute

A process for deciding a legal dispute out of court In Maricopa County, all civil cases which seek a judgement of $50,000 or less, must go to arbitration Where arbitration produces a settlement, there is no need for litigants to incur the cost of trial

Arbitration is a procedure for the settlement of disputes, under which the parties agree to be bound by the decision of an arbitrator whose decision is, in general, final and legally binding on both parties It is governed by both statute law and the common law The principal legislation in England and Wales is the Arbitration Act 1996 As a dispute resolution procedure arbitration is the only means of dispute resolution which is an alternative to litigation because an arbitrator's award is final, binding and enforceable summarily in the courts

A dispute resolution process that is binding: disputing parties agree in advance to be bound by the arbitrator's decision The arbitrator acts as a private judge in a closed and private court The arbitrator's final decision is based on the evidence and testimony of all parties provided at a hearing convened by the arbitrator For information about IDA's arbitration process, click here

A form of alternative dispute resolution in which the parties bring their dispute to a neutral third party and agree to abide by his or her decision In arbitration there is a hearing at which both parties have an opportunity to be heard

A process in which the parties to a dispute submit their dispute to an impartial third party for a final, binding decision

A method of settling disputes where labor and management present their case to an impartial third party, called an arbitrator, who has the responsibility of deciding the case

A low-cost alternative to settling disputes over securities transactions in the court system The NYSE administers this service [NYSE] The procedure of settling disputes between members, or between members and customers [CBOT][MIDAM]

The hearing and settlement of a dispute between opposing parties by a third party whose decision the parties have agreed to accept

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