§ 13-22-503. Definitions

As used in this part 5, unless the context otherwise requires:

1. “Arbitration” means the referral of a dispute to one or more neutral third parties for a decision based on evidence and testimony provided by the disputants.
2. “Conciliation” means all forms of dispute resolution including, but not limited to, arbitration and mediation.
3. “International dispute” means any dispute which involves the following:
   1. A dispute between persons who are residents of more than one country or entities which have facilities or operations relevant to the dispute located in more than one country;
   2. A dispute in which the parties have expressly agreed that the subject matter relates to interests in more than one country; or
   3. A dispute which is otherwise related to interests in more than one country.
4. “Mediation” means an intervention in dispute negotiations by a trained, neutral third party with the purpose of assisting the parties to reach their own solution.

Source: L. 93: Entire part added, p. 361, § 5, effective April 12.