/ɑːrbɪˈtreɪʃən əˈɡriːmənt/ – Phrase
Definition: hiệp định trọng tài, thỏa ước trọng tài.
A more thorough explanation: An arbitration agreement is a contract between parties to resolve disputes through arbitration, a private process where a neutral third party (arbitrator) makes a binding decision.
Example: The parties involved in the dispute signed an arbitration agreement, agreeing to resolve any conflicts through arbitration rather than litigation.