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Negotiation vs. Arbitration — What's the Difference?

Negotiation vs. Arbitration — What's the Difference?

Difference Between Negotiation and Arbitration

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Compare with Definitions

Negotiation

Negotiation is a dialogue between two or more people or parties intended to reach a beneficial outcome over one or more issues where a conflict exists with respect to at least one of these issues. Negotiation is an interaction and process between entities who aspire to agree on matters of mutual interest, while optimizing their individual utilities.

Arbitration

Arbitration, a form of alternative dispute resolution (ADR), is a way to resolve disputes outside the judiciary courts. The dispute will be decided by one or more persons (the 'arbitrators', 'arbiters' or 'arbitral tribunal'), which renders the 'arbitration award'.

Negotiation

Discussion aimed at reaching an agreement
A worldwide ban is currently under negotiation
Negotiations between unions and employers

Arbitration

The use of an arbitrator to settle a dispute
Tayside Regional Council called for arbitration to settle the dispute
Binding arbitration

Negotiation

The action or process of transferring legal ownership of a document.
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Arbitration

The process by which the parties to a dispute submit their differences to the judgment of an impartial person or group appointed by mutual consent or statutory provision.

Negotiation

The act or process of negotiating
Successful negotiation of a contract.
Entered into labor negotiations.

Arbitration

The act or process of arbitrating.

Negotiation

The transfer of a negotiable instrument.

Arbitration

A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.

Negotiation

The process of achieving agreement through discussion.
The specifics of the contract are still under negotiation.
The two parties entered into negotiations about the merger.

Arbitration

In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.

Negotiation

The act or process of negotiating; a treating with another respecting sale or purchase. etc.

Arbitration

The hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.

Negotiation

Hence, mercantile business; trading.
Who had lost, with these prizes, forty thousand pounds, after twenty years' negotiation in the East Indies.

Arbitration

(law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)

Negotiation

The transaction of business between nations; the mutual intercourse of governments by diplomatic agents, in making treaties, composing difference, etc.; as, the negotiations at Ghent.
An important negotiation with foreign powers.

Arbitration

The act of deciding as an arbiter; giving authoritative judgment;
They submitted their disagreement to arbitration

Negotiation

A discussion intended to produce an agreement;
The buyout negotiation lasted several days
They disagreed but kept an open dialogue
Talks between Israelis and Palestinians

Negotiation

The activity or business of negotiating an agreement; coming to terms

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