action in mediating between parties, as to effect an agreement or reconciliation.
2.
International Law. an attempt to effect a peaceful settlement between disputing nations through the friendly good offices of another power.
Origin: 1350–1400; ME < ML mediātiōn- (s. of mediātiō). See mediate, -ion
Synonyms: 1.Mediation,arbitration designate processes for bringing about agreement or reconciliation between opponents in a dispute. Mediation implies deliberation that results in solutions that may or may not be accepted by the contending parties. Arbitration involves a more formal deliberation, it being understood that the results will be binding on the contending parties.
A process for settling a dispute between an investor and a broker. The two sides employ a third party who attempts to find common ground that will resolve the dispute. Mediation is a less lengthy and less expensive alternative to arbitration. Each side must agree to mediation and either side may walk away from the process at any time. Compare arbitration. See also NASD Dispute Resolution, Inc..
Main Entry: me·di·a·tion Pronunciation: "mE-dE-'A-sh&n Function: noun : nonbinding intervention between parties esp. in a labor dispute to promote resolution of a grievance, reconciliation, settlement, or compromise —compare ARBITRATION
Main Entry: me·di·a·tion Pronunciation: "mEd-E-'A-sh&n Function: noun : the act or process of mediating something (as a physicalprocess) —me·di·a·tion·al/-shn&l, -sh&n-&l/adjective