Definition: The act or process of arbitrating.

Alright class, settle down, let’s take a look! You’ve got the definition – “the act or process of arbitrating” – and that's a great start, it's true. But what does that really mean? Let’s break it down for you, see if we can make it clear through rhyme: Arbitration is like this, you agree? A way to settle disputes with dignity! Instead of fighting, loud and slow, Or taking cases to a courtroom show, You choose a neutral friend, quite wise and fair, To listen closely, beyond compare. This person, called an arbitrator bright, Will help you reach an agreement just right. They’ll hear both sides, with thoughtful grace, And find a solution in that special space. Think of it like this: You disagreeing with a friend? You might arbitrate – meaning you both talk it out and come to a compromise! So, “arbitration” is simply a process , a method you see, To settle differences peacefully - for you and me! Do you have any questions about this concept new?