Arbitration

Arbitration is a process for settling disputes outside of the court system. A neutral third party is chosen by both sides to reach a decision

The word "arbitration" can cause problems for translators. For example the Belgian Constitutional Court is called Arbitragehof or Cour d’arbitrage; while in Russia the Arbitrazh Court deals with business matters.

Textbook reference
see chapter eight of Introduction to International Legal English

related links
CIS Arbitration forum Basic concepts of international arbitration - a lecture at the LSE by Jan Paulsson