Definitions
arbitration Tweet Definition of arbitration Like Definition of arbitration on Facebook
noun 
  1. the act or process of arbitrating
  2. a process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute
  3. In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.

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