Arbitration
The legal technique for resolution of disputes outside courts. The parties to a dispute refer it to one or more persons (arbitrators, arbiters or arbitral tribunal). Their decision (award) is agreed to be bound.
In the United States it includes alternative dispute resolution (ADR). More commonly referred as mediation (a form of settlement negotiation facilitated by a neutral third party).
Arbitration is form of binding dispute resolution, equivalent to litigation in courts, and distinct from various forms of non-binding dispute resolution, like negotiation, mediation, or non-binding determinations by experts.
If you have any questions about arbitration and how it could be applied to your situation, call us (239) 461-0101.
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