capable of arbitration; subject to the decision of an arbiter or arbitrator: an arbitrable dispute.

1525–35; (< Middle French) < Latin arbitr(ārī) to decide (see arbitrate) + -able

nonarbitrable, adjective Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
arbitrate (ˈɑːbɪˌtreɪt)
1.  to settle or decide (a dispute); achieve a settlement between parties
2.  to submit to or settle by arbitration
[C16: from Latin arbitrāri to give judgment; see arbiter]

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
The only matter submitted to arbitration was whether the grievance was
We reverse in part and affirm in part, holding that neither grievance is
Doubts and ambiguities regarding the parties' intent or the scope of arbitrable
  issues will be resolved in favor of arbitration.
The first question to be placed before the arbitrator will be whether or not
  the alleged grievance is arbitrable.
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