Definition of "Arbitration"
A process where two parties who are not able to agree on a contract settlement submit the disagreement to an independent person or persons (appraisers, who in turn appoint an umpire) to resolve the disagreement.
A process where two parties who are not able to agree on a contract settlement submit the disagreement to an independent person or persons (appraisers, who in turn appoint an umpire) to resolve the disagreement.