Contingency - When estimating the cost for a project, product or other item or investment, there is always uncertainty as to the precise content of all items in the estimate, how work will be performed, what work conditions will be like when the project is executed and so on.
An arbitrator is one who delivers a fair judgment to resolve a dispute. The arbitrator's decision may or may not be favorable to one or more parties involved; however, the arbitrator is a neutral third party chosen by the disputing parties in lieu of litigating in court.
Arbitration is the process whereby an arbitrator resolves the issues existing between you and your spouse following a proceeding that is conducted very much like a hearing or a trial. Arbitration is usually binding, which means that neither party can appeal the arbitrator's decision.