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2006-11-26 20:26:50 · 1 answers · asked by MICHAEL J 1 in Education & Reference Homework Help

1 answers

Arbitration is a form of dispute resolution in which the disputing parties try to come to a mutually agreed settlement with the help of an arbiter. The terms on which this is carried out are normally laid out in an agreement prior to the contract being signed, and within that agreement, an independent arbitrator is nominated.

In the event of that agreement not being in place before such juncture is met, an arbitrator can be nominated by one of the parties involved and agreed by the other to act as a quasi-arbiter.

2006-11-26 21:13:06 · answer #1 · answered by 6 · 0 0

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