Business Terms and Jargon Explained
What is Arbitrator or Arbitration
A process in which both sides agree to use an independent arbitrator (an impartial person) who gives a binding decision in the matter. The person making the claim (claimant) has to choose between going to arbitration and court – it is not usually possible to take a claim to court after it has been through arbitration.
© Crown Copyright. Material taken from Her Majesty's Courts Service (HMCS) website. Reproduced under the terms and conditions of the Click-Use Licence.
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Term created / updated 2008-06-12 12:03:24
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