Definitions of binding arbitration
the reference of a dispute to an impartial (third) person chosen by the parties who agree in advance to abide by the arbitration award issued after the hearing at which both parties have an opportunity to be heard. In binding arbitration, the general courts will enforce the arbitration award.
Please note we also have new Legal Terms which require all disputes related to the purchase or use of any General Mills product or service to be resolved through binding arbitration.