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Reconciliation vs Arbitration - What's the difference?

reconciliation | arbitration |

As nouns the difference between reconciliation and arbitration

is that reconciliation is the reestablishment of friendly relations; conciliation or rapprochement while arbitration is the act or process of arbitrating.

reconciliation

Noun

(en noun)
  • The reestablishment of friendly relations; conciliation or rapprochement.
  • He longed for reconciliation with his estranged father, but too many painful memories kept him from making contact again.
  • (theology) The end of estrangement between a human and God as a result of the process of atonement; more specifically,
  • :* A Roman Catholic sacrament involving contrition, confession, punishment and absolution; penance.
  • (accounting) Process of matching and comparing figures from accounting records against those presented on a bank statement.
  • Synonyms

    *

    arbitration

    English

    Noun

  • 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.