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Industrial arbitration is a type of arbitration to prevent or settle labor disputes that may arise between an industrial employer and a union, union member, or union representative to prevent legal action taking place and finding less costly ways to settle disputes.
Arbitration, in the context of the law of the United States, is a form of alternative dispute resolution.Specifically, arbitration is an alternative to litigation through which the parties to a dispute agree to submit their respective evidence and legal arguments to a third party (i.e., the arbitrator) for resolution.
The third party neutral (the 'arbitrator', 'arbiter' or 'arbitral tribunal') renders the decision in the form of an 'arbitration award'. [1] An arbitration award is legally binding on both sides and enforceable in local courts, unless all parties stipulate that the arbitration process and decision are non-binding.
The arbitrator's decision has to choose between awarding a 3% or a 7% increase. This procedure is opposed to conventional interest arbitration, in which the parties present evidence and the arbitrator acts as fact-finder and crafts an award.
Rent-A-Center, West, Inc. v. Jackson, 561 U.S. 63 (2010): A court must decide whether or not an arbitration clause is unconscionable, even if the contract unequivocally states that the arbitrator must make that decision. Granite Rock Co. v. Teamsters, 561 U.S. 287 (2010) AT&T Mobility LLC v.
The London Court of International Arbitration. An arbitral tribunal or arbitration tribunal, also arbitration commission, arbitration committee or arbitration council is a panel of unbiased adjudicators which is convened and sits to resolve a dispute by way of arbitration.
the award must be in writing and signed by all of the arbitrators assenting to the award (dissenting minority arbitrators need not sign unless the parties agree that they must); the award must contain reasons; the award must state the "seat" of the arbitration (the place where the arbitration took place); and
Arbitration is a process where a neutral third party (arbitrator) delivers a decision which is final, and binding on both parties. It can be defined as a quasi-judicial procedure because the award replaces a judicial decision. Arbitrators can be current or former trial judges, but that is not a requirement.