arbitration background

arbitration

/ˌɑː.bɪˈtɹeɪ.ʃən/ /ˌɑɹ.bɪˈtɹeɪ.ʃən/

Illustration arbitration - Image 1

noun

Арбитраж, третейский суд

The act or process of arbitrating.

Examples :

"The family used arbitration to settle their disagreement about who got to use the backyard trampoline. "

Семья использовала третейский суд, чтобы урегулировать свой спор о том, кому достанется батут на заднем дворе.

law business process economy

Illustration arbitration - Image 1

Illustration arbitration - Image 2

noun

Арбитраж, третейский суд

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

Examples :

"After failing to agree on the terms of the contract, the company and the supplier agreed to submit their dispute to arbitration. "

После того, как стороны не смогли договориться об условиях контракта, компания и поставщик согласились передать свой спор в арбитраж.

law business process government organization

Illustration arbitration - Image 1

noun

Арбитраж, третейский суд

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.

Examples :

"The neighbors agreed to arbitration to settle their dispute over the shared garden fence. "

Соседи согласились на арбитраж, чтобы урегулировать свой спор по поводу общего садового забора.

politics theory government right philosophy action value system process organization law economy society business service