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Simple English definitions for legal terms

compromissory arbitration

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A quick definition of compromissory arbitration:

Compromissory arbitration is a way to solve a disagreement between two parties by having a neutral third party make a decision that both parties agree to follow. This type of arbitration is usually used in international disputes and is based on a mutual promise to define the scope of the disagreement and abide by the arbitrator's decision. It is different from other types of arbitration, such as grievance arbitration or interest arbitration, which are used to resolve specific types of disputes. Compromissory arbitration is voluntary and requires both parties to agree to the process.

A more thorough explanation:

Compromissory arbitration is a method of resolving disputes between two parties with the help of a neutral third party. The third party is agreed upon by both parties and their decision is binding. This means that both parties must abide by the decision made by the arbitrator.

One example of compromissory arbitration is when two companies from different countries agree to resolve a dispute through arbitration. They both sign a mutual promise to define the scope of the dispute and abide by the arbitrator's decision. This is known as an international arbitration.

Another example is when two individuals agree to resolve a dispute through arbitration instead of going to court. They both choose an arbitrator and agree to abide by their decision.

Compromissory arbitration is different from voluntary arbitration, which is when both parties agree to resolve a dispute through arbitration without any prior agreement.

compromissarius | compromissum

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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
babycat
9:55
it’s true he sent me feet pics (unsolicited!)
babycat
9:56
poor little glovey
babycat
9:56
it’s illegal to make you work on a snow day
BulbasaurNoLikeCardio
9:57
Free feet pics sounds like you saved some money
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