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'''Arbitration''' is a non-judicial, [[dispute resolution]] procedure. Generally, there is a hearing with testimony from witnesses before one or more [[arbitrator]]s. At the end of the hearing, the [[arbitrator]](s) issue an award, which is final and [[binding]] regarding all matter submitted to them. |
'''Arbitration''' is a non-judicial, [[dispute resolution]] procedure. Generally, there is a hearing with testimony from witnesses before one or more [[arbitrator]]s. At the end of the hearing, the [[arbitrator]](s) issue an award, which is final and [[binding]] regarding all matter submitted to them. |
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"It is beyond cavil that arbitration is a matter of contract and a party cannot be required to submit to arbitration any dispute which he has not agreed so to submit."<ref>Ajida Tech., Inc. v. Roos Instruments, Inc., 87 Cal.App.4th 534, 541, 104 Cal.Rptr.2d 686 (2001)([http://scholar.google.com/scholar_case?case=17338398277337949918&q=87+Cal.App.4th+534&hl=en&as_sdt=2002 full-text]) (citations and internal quotation omitted).</ref> |
"It is beyond cavil that arbitration is a matter of contract and a party cannot be required to submit to arbitration any dispute which he has not agreed so to submit."<ref>Ajida Tech., Inc. v. Roos Instruments, Inc., 87 Cal.App.4th 534, 541, 104 Cal.Rptr.2d 686 (2001)([http://scholar.google.com/scholar_case?case=17338398277337949918&q=87+Cal.App.4th+534&hl=en&as_sdt=2002 full-text]) (citations and internal quotation omitted).</ref> |
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| − | Arbitration is derived from «Arbitrage» - the word from French, meaning a fair verdict of an arbitrator (judge). As the term of the economy first appeared in the work of Mateo de la Porte in 1704. He had the value of the process of comparing the different exchange rates in order to find the most profitable place for the issuance and repayment of the notes. |
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| − | In general, the consideration of the arbitration - is the proper procedure for which there is a settlement of property or commercial disputes. |
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| − | There are international commercial arbitration, labor arbitration, state arbitration, administrative or arbitration and arbitration, which applies to the sphere of international trade. |
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== References == |
== References == |
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Revision as of 06:11, 16 February 2010
Arbitration is a non-judicial, dispute resolution procedure. Generally, there is a hearing with testimony from witnesses before one or more arbitrators. At the end of the hearing, the arbitrator(s) issue an award, which is final and binding regarding all matter submitted to them.
"It is beyond cavil that arbitration is a matter of contract and a party cannot be required to submit to arbitration any dispute which he has not agreed so to submit."[1]