분쟁의 당사자들이 제삼자를 중재인으로 선정하여 그 판정에 복종함으로써 법정 밖에서 문제를 해결하는 공식적인 절차.
A formal process for settling a dispute outside the court system where an impartial third party, known as an arbitrator, makes a decision that is typically legally binding.
예문:
"The tech company and its former partner agreed to resolve their patent dispute through binding arbitration."
"If the labor negotiations fail, both sides may be forced to enter mandatory arbitration."
"International arbitration is a common method for settling trade disagreements between different countries."