arbitration Meaning in Cambridge Business English Dictionary
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Meaning of "arbitration" - Business English Dictionary

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arbitration

noun [U]
 
 
/ˌɑːbɪˈtreɪʃən/
LAW a process in which an independent person makes an official decision that ends a legal disagreement without the need for it to be solved in court: Arbitration is often preferred by firms in business disputes. binding/mandatory arbitration The Texas high court said they had to go to arbitration because that's what the signed contract required. The dispute is in arbitration.
HR a process in which an independent official tries to avoid a strike (= situation in which workers stop working as a protest) by having discussions that end a disagreement between the workers and their employer: Pension contribution levels have been fixed by collective bargaining and labor arbitration.
Translations of “arbitration”
in Chinese (Traditional) 仲裁…
in Russian третейский суд…
in Turkish bir sorunu hakem aracılığı ile çözme, aracı vasıtasıyla halletme…
in Chinese (Simplified) 仲裁…
in Polish pośrednictwo, arbitraż…
(Definition of arbitration from the Cambridge Business English Dictionary © Cambridge University Press)
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