Arbitration vs Settlement - What's the difference?
arbitration | settlement |
The act or process of arbitrating.
A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.
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.
The state of being settled.
A colony that is newly established; a place or region newly settled.
A community of people living together, such as a hamlet, village, town, or city.
(architecture) The gradual sinking of a building. Fractures or dislocations caused by settlement.
(finance) The delivery of goods by the seller and payment for them by the buyer, under a previously agreed trade or transaction or contract entered into.
(legal) A disposition of property, or the act of granting it.
(legal) A settled place of abode; residence; a right growing out of legal residence.
(legal) A resolution of a dispute.