Definition
Professional dispute settlers who make binding decisions when parties can't work things out themselves, essentially paid referees for grown-up arguments. They wield less power than judges but more than your HR department, and their decisions typically can't be appealed—so pick carefully. The business world's way of saying 'we need an adult in the room.'
Example Usage
The arbitrators ruled in favor of the union after a six-month process that cost both sides more than just negotiating would have.
Source: Legal dispute resolution terminology
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