Word Finder - arbitrations

definition

The act or process of arbitrating.

definition

A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.

definition

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.

Although arbitrations proper may be thus distinguished from " mixed commissions," it must not be supposed that any hard or fast theoretical line can be drawn between them.

To enumerate even a tenth part of the successful arbitrations in recent times would occupy too much space.

Not the least of the benefits of the Hague convention of 1899 (strengthened by that of 1907) is that it contains rules of procedure which furnish a guide for all arbitrations whether conducted before the Hague court or not.

Moore, History of the International Arbitrations to which the United States has been a Party (Washington, 1898).

The appendices to this work (which is in six volumes) contain, with much other matter of great value, full historical notes of arbitrations between other powers.

From 1887-1900, out of 290 cases settled, only 107 were formal arbitrations, 124 agreements were effected by the mediation of the Board, Ioo were effected otherwise while proceedings were pending, and in 59 cases the Board interposed when the parties preferred hostilities.

Moore, History and Digest of the International Arbitrations to which the United States has been a Party (1898) 6 vols.