Question

what is meant by arbitration?

Answer 1

Settlement of a dispute (whether of
fact, law, or procedure) between parties to a contract by a neutral third
party (the arbitrator) without resorting to court action. Arbitration is usually
voluntary but sometimes it is required by law. If both sides agree to be bound by the arbitrator's decision (the 'award') it becomes a binding arbitration. The exact procedure to be followed (if not included in the contract under dispute) is governed usually by a country's arbitration laws, or by the arbitration rules prescribed by the International Chamber Of Commerce (ICC).

Answer 2

arbitration means-a formal written request especially for a job or a place in a school, club etc
I hope it's help!!!!