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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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WorthlessAttractiveZombie
14:27
since you're from the future, will fordham release today
14:28
no
WorthlessAttractiveZombie
14:28
fuck alright
14:28
not this week
14:28
dont even get ur hopes up u fool im from the year 2076
TheMidwestMonger
14:28
I'm terrified with how the world will react to Trump losing
WorthlessAttractiveZombie
14:28
damn, next question: should i eat the cheese that's been in my fridge for 3 weeks?
14:28
im pretty sure the world is gonna rejoice??
14:29
yes it is the key to immortality
TheMidwestMonger
14:29
Sorry, I meant the far right and their reaction lol
I live in alabama if she wins it's gonna be crazy here
14:30
same as last time whine that it was rigged go to court lose every time
good thing im bouncing next year
oh yeah
JumpySubsequentDolphin
14:31
why won’t ASU send my scholly info ☹️
WorthlessAttractiveZombie
14:31
they sent mine about 3 hours after i got the initial acceptance video thing
I just wanna hear back from them
14:31
the adcomm office got there at 10 am took a two hour lunch at 12 and left at 3:30 -- trust me im from the year 2076
lol
WorthlessAttractiveZombie
14:32
lavender, they should usually get back within a month of going complete
okie doke, thank u!
JumpySubsequentDolphin
14:35
@WorthlessAttractiveZombie: good to know! I thought I missed SMTH bc someone told me they got their admissions packet before the video lol
BulbasaurNoLikeCardio
14:35
I got school that have me under review for over a month... just hope it puts me in their first wave of As
TackyProudYogurt
14:39
Anyone know if asu releases decisions all at once or if they trickle out throughout the day?
WorthlessAttractiveZombie
14:39
I'm pretty sure it's a trickle because they send you a personalized video too
TackyProudYogurt
14:40
Ah okay so I do need to continue refreshing my email every 10 seconds
WorthlessAttractiveZombie
14:40
I would say potentially. I received my email/video around noon eastern time, and I've seen people get it past 5pm eastern
coolgirl
14:40
Does anyone know if pending decision means I’ll get a response soon? My status changed
WorthlessAttractiveZombie
14:41
oooh which school?
TheMidwestMonger
14:42
^^
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