the.com/arbitration

means A way of settling a dispute by handing it to a neutral third party who decides the outcome outside of court.

from From Latin arbiter, meaning a witness, judge, or umpire — someone who 'goes to' a matter to look it over and render a verdict. By the 1600s, English had 'arbitration' as the act of submitting a dispute to such a person rather than to the full machinery of a court. The sense has barely drifted since: arbitration still means letting one chosen judge settle things, usually faster and more privately than a lawsuit — the trade-off being you agreed to accept their word before you knew what the dispute would even be.