Arbitrated

The act of arbitrating involves resolving a dispute between two or more parties by having an impartial third party (the arbitrator) make a binding decision. This process is often used as an alternative to litigation, offering a potentially faster and less expensive solution. The arbitrator considers the evidence presented by each side, applies relevant laws or industry standards, and then renders a judgment that all parties have typically agreed to abide by. The process aims for a fair and equitable outcome, promoting resolution and avoiding protracted court battles. It is crucial for the arbitrator to maintain impartiality throughout the proceedings, based upon the evidence given.

Arbitrated meaning with examples

• The experienced mediator was chosen to arbitrated the contract dispute between the two companies, attempting to reach a compromise that would avoid costly court proceedings and preserve their business relationship. After weeks of negotiation, a fair settlement was achieved that both parties found acceptable and they continued their business.
• When the tenants and landlord couldn't agree on the terms of a lease renewal, they chose to have a professional mediator to arbitrated the impasse. The arbitrator reviewed the property inspection report, and all the current legislation to make sure that they gave a fair and reasonable conclusion for everyone.
• The labor union and management team were stuck in a bitter negotiation over wages. The team employed an external expert to arbitrated the issue, to look at financial performance and to compare salaries in that industry. This resulted in a successful settlement.
• After a disagreement between the two business partners on the division of profits, they decided to bring in an external legal expert to arbitrated the final amount for distribution. The expert's ruling was binding, preventing further conflict, and allowing them to move forward with their venture, focusing on growth and their brand.
• The customer and the car dealership couldn't agree on the final price of the new vehicle, after several failed attempts at a resolution. The consumers opted to utilize binding arbitration to arbitrated their dispute which was less costly and time-consuming than a court of law.