Dictionary  ar•bi•tra•tionPronunciation: (är"bi-trā'shun), [key] —n. 1. the hearing and determining of a dispute or the settling of differences between parties by a person or persons chosen or agreed to by them: Rather than risk a long strike, the union and management agreed to arbitration. 2. Internat. Law.the application of judicial methods to the settlement of international disputes. Arbitration, Thea comedy (c300 b.c.) by Menander, extant only as a fragment. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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