Arbitration

Arbitration - (noun)

Definition

Arbitration is where an impartial person makes a decision on a dispute. Both sides in the dispute should agree to the decision of the arbitrator.

Extra

Source: Adapted from the ACAS Website.
Example of Use: The trade union and the employer could not agree about whether the terms of the collective agreement had been breached. Therefore, they turned to the UK public body ACAS for arbitration.