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Arbitration - בוררות: Definition

Definition from Black's Law Dictionary

alternative dispute resolution (1978) Any procedure for settling a dispute by means other than litigation, as by arbitration or mediation. • See APPROPRIATE DISPUTE RESOLUTION for a discussion of the merits of one name as contrasted with the other. — Abbr. ADR. — Also termed dispute resolutionappropriate dispute resolutionassisted dispute resolution. See ARBITRATIONMEDIATIONsettlement counsel under COUNSEL.

arbitration n. (15c) A dispute-resolution process in which the disputing parties choose one or more neutral third parties to make a final and binding decision resolving the dispute. • The parties to the dispute may choose a third party directly by mutual agreement, or indirectly, such as by agreeing to have an arbitration organization select the third party. — Also termed (redundantly) binding arbitration.

mediation (mee-dee-ay-shən) n. (14c) 1. A method of nonbinding dispute resolution involving a neutral third party who tries to help the disputing parties reach a mutually agreeable solution; CONCILIATION. — Also termed case evaluationfacilitated negotiation. Cf. COLLABORATIVE LAWCOOPERATIVE LAWARBITRATION. 2. Int'l law. A process whereby a neutral country helps other countries peacefully resolve disputes between them. — mediate (mee-dee-ayt), vb. — mediatory (mee-dee-ə-tor-ee), adj.