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English definition of “debt arbitration”

debt arbitration

noun [U]
 
 
FINANCE the process of helping companies that owe or are owed money to find an acceptable agreement for paying back the debt: For creditors, debt arbitration makes it possible to recoup more of the amount owed than would be possible by filing a suit against the debtor.
(Definition of debt arbitration from the Cambridge Business English Dictionary © Cambridge University Press)
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