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Glossary of Legal, Business and Financial Terms

This glossary contains definitions of common legal terms, as well as words and phrases related to business and finance. Some terms may have different meanings based on the area of law or the context in which they are used.

Arbitration

A formal process by which a panel of one or more arbitrators is chosen by the parties involved in a dispute, to hear and rule on the dispute. The parties agree to accept the arbitrator's ruling as final and binding.

See Also:

Arbitrator

Conciliation

Mediation

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