/ˌɑːbɪˈtreɪʃәn/ – Noun
Definition: việc trọng tài, tòa án trọng tài, việc phân xử của trọng tài.
A more thorough explanation: Arbitration is a method of resolving disputes outside the court system where parties agree to submit their disagreements to one or more impartial individuals, known as arbitrators, who make a binding decision on the matter.
Example: In the event of a dispute between the parties, they have agreed to resolve it through arbitration as outlined in the contract.