Arbitrator in the context of "Arbitration clause"

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⭐ Core Definition: Arbitrator

An arbitral tribunal or arbitration tribunal, also arbitration commission, arbitration committee or arbitration council is a panel of adjudicators which is convened and sits to resolve a dispute by way of arbitration. The tribunal may consist of a sole arbitrator, or there may be two or more arbitrators, which might include a chairperson or an umpire. The tribunal usually consists of an odd number of arbitrators. Members selected to serve on an arbitration panel are typically professionals with expertise in both law and in friendly dispute resolution (mediation). Some scholars have suggested that the ideal composition of an arbitration commission should include at least also one professional in the field of the disputed situation, in cases that involve questions of asset or damages valuation for instance an economist.

The parties to agree on arbitration are usually free to determine the number and composition of the arbitral tribunal. Many jurisdictions have laws with general rulings in arbitration, they differ as to how many arbitrators should constitute the tribunal if there is no agreement. In some legal systems, an arbitration clause which provides for an even number of arbitrators is understood to imply that the appointed arbitrators will select an additional arbitrator as a chairperson, to avoid deadlock arising.

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Arbitrator in the context of Negotiation

Negotiation is a dialogue between two or more parties to resolve points of difference, gain an advantage for an individual or collective, or craft outcomes to satisfy various interests. The parties aspire to agree on matters of mutual interest. The agreement can be beneficial for all or some of the parties involved. The negotiators should establish their own needs and wants while also seeking to understand the wants and needs of others involved to increase their chances of closing deals, avoiding conflicts, forming relationships with other parties, or maximizing mutual gains. Distributive negotiations, or compromises, are conducted by putting forward a position and making concessions to achieve an agreement. The degree to which the negotiating parties trust each other to implement the negotiated solution is a major factor in determining the success of a negotiation.

People negotiate daily, often without considering it a negotiation. Negotiations may occur in organizations, including businesses, non-profits, and governments, as well as in sales and legal proceedings, and personal situations such as marriage, divorce, parenting, friendship, etc. Professional negotiators are often specialized. Examples of professional negotiators include union negotiators, leverage buyout negotiators, peace negotiators, and hostage negotiators. They may also work under other titles, such as diplomats, legislators, or arbitrators. Negotiations may also be conducted by algorithms or machines in what is known as automated negotiation. In automated negotiation, the participants and process have to be modeled correctly. Recent negotiation embraces complexity.

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Arbitrator in the context of President of Bulgaria

The president of the Republic of Bulgaria (Bulgarian: Президент на Република България, romanised: Prezident na Republika Bălgariya) is the head of state of Bulgaria and the commander-in-chief of the Bulgarian Army. The official residence of the president is at Boyana Residence, Sofia. After the completion of the second round of voting, candidate Rumen Radev was elected President of Bulgaria on 13 November 2016.

In Bulgaria, the president's role is primarily as a symbolic figure, with the main function being to be the 'arbitrator' of disputes between Bulgaria's different institutions. They are not considered head of government or part of the nation's executive power. However, in the absence of a prime minister, presidents are in charge of appointing an interim administration, giving them considerable influence over the government during such periods (Zhelyu Zhelev in 1994-95; Petar Stoyanov in 1997; Rosen Plevneliev in 2013 and 2014; and Rumen Radev in 2017, 2021, and since 2022). On some occasions, the president has appointed the prime minister as well. The president is elected for a five-year term and is restricted to two terms, even if they are non-successive. After an individual has served two terms as president, that individual will forever be barred from being elected to the presidency again under the rules set out by Bulgaria's Constitution. The president addresses the nation on national television annually on New Year's Eve, just moments before the start of the new year.

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