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Definition for arbitration?
Settling of a dispute with a mediator, intention of coming to a binding agreement.
The process by which a third party settles a dispute by agreement of both labor and management?
arbitration
How do you use the word arbitrator in a sentence?
After I refused to pay my credit card bill, the credit card company requested arbitration to order me to pay. Arbitration settles what mediation cannot. A difficult labor dispute was finally settled by binding arbitration.
How to use arbitrate in a sentence?
The union representative was called in to arbitrate the dispute.
How does one arbitrate a dispute?
Arbitration is the resolution of disputes outside of a court. The easiest way to do this would be to organize a meeting between the disputants and discuss the issues at hand until a resolution is found.
What is the source of an arbitrator's authority to arbitrate?
The source of an arbitrator's authority comes from the parties to the dispute being arbitrated. Both parties agree that their dispute will be settled through arbitration rather than through litigation and they enter into a contract promising that the arbitration will be binding they will abide by the decision of the arbitrator. If one party refuses to honor the arbitrator's decision, the other party can go to court and have the court enforce the arbitration decision, but it won't have to litigate the actual dispute all over again.
What types of people make good arbitrators?
There are two requirements for a good arbitrator: a good understanding of the situation that requires arbitration, and a lack of bias. In our society, arbitration often is about a legal issue. In keeping with that, I'll give an example. A dispute is generated over a union member's compliance with a labor contract. An unbiased attorney who specializes in labor law might be a good "type" of person to arbitrate that dispute.
What are two alternatives for resolving disputes?
Two alternative dispute resolution (ADR) methods are arbitration and mediation. Arbitration is where the dispute is given to a third party who makes a ruling on which party is correct. Arbitration may be binding or non binding depending on the agreement of the parties. The other method is mediation where the parties explain their dispute to a third party who works with both sides together to find a settlement to which both parties agree. The mediator makes no decision that binds the parties.
Can two insurance companies arbitrate?
Yes; in fact, it is quite common. One scenario in which it frequently happens is that of subrogation. When an insurer pays for the repair of its insured's vehicle, it acquires the right of action of the insured to recover that which it paid. If the other driver was insured, and if the two insurers have agreed (in advance) to arbitrate their subrogation disputes, arbitration is the only dispute resolution mechanism that may be used.
What is a way of settling a dispute in which both parties agree to abide by the decision of a third party called?
The term for such an agreement, where both parties agree to abide by a mediator's decision is often called arbitration. Or, in some circumstances, binding arbitration. This often seen in Union and management disagreements.
What are the specific rules and procedures that govern the arbitration process within the arbitration forum?
The specific rules and procedures that govern the arbitration process within an arbitration forum are typically outlined in the forum's arbitration agreement. These rules usually cover the selection of arbitrators, the timeline for the arbitration process, the submission of evidence, the conduct of hearings, and the issuance of the final decision. It is important for parties involved in arbitration to familiarize themselves with these rules to ensure a fair and efficient resolution of their dispute.
When a dispute is referred to a council is it an arbitration or a conciliation?
conciliation
