- A method used to resolve disputes that requires an impartial third party to make a reasonable and fair decision for all parties involved. The impartial third party must be agreed upon by all sides involved in the dispute before a decision can be made.
accommodation, resolution, determination, settlement, arrangement, adjudication, agreement, ruling, accord
Related Terms and Acronyms
- Judgement — Definition,
- A determination by a court of law or a judicial decision.
- Mediation — Definition,
- A method of resolving a dispute using a neutral party (a "mediator") who actively works to resolve the differences. A mediator cannot make a binding decision, as opposed to an arbitrator, who can.
- Settlement — Definition,
- An agreement between the parties of a legal case.
- Settlement Statement — Definition,
- A document that details who has paid how much to whom.