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 a way for people to obtain final binding enforceable settlements of disputes in divorce separation or business without going to court the purpose of arbitration is to determine a final decision on all matters brought to the arbitration the arbitrator s role is to act as a private judge in arbitration a neutral third party the arbitrator imposes a binding enforceable decision on the parties to the arbitration the arbitrator controls the process which can be as formal as a trial or as informal as mediation and the outcome which is a binding enforceable decision