Definition of Arbitrator
The arbitrator is the person who conducts the arbitration. Arbitration has become one of the most common means of resolving disputes without holding a trial. Arbitrators are generally a neutral third party (often a judge or attorney) and make a decision which is generally binding to the participants. When the arbitrator makes their decision they will decide an award or compensation payment to for each of the parties in the case. Arbitrators can generally decide a case in a day to a day and a half. If the there are multiple parties in the case it can take longer for the arbitrator to make their decision.
Arbitrators need to have at least a bachelor?s degree, although many states and employers require arbitrators to have a law degree and some experience as a practicing lawyer. Many arbitrators have a master?s degree in law or another related filed and many have completed an internship. Certification can also be helpful. Arbitrators can also expect to continue ongoing education and training courses to keep their skills current.