Definition
To play referee in a dispute by making a binding decision, typically when two parties can't adult their way through negotiations. It's less formal than court but more official than rock-paper-scissors, often used to avoid expensive litigation. The arbitrator's decision is usually final, so choose your arbitrator wisely—or prepare to live with consequences.
Example Usage
Rather than spend millions in court, the companies agreed to arbitrate their contract dispute with a retired judge who charged only thousands per hour.
Source: Legal terminology
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See “arbitrate” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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