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Arbitration is a method of conflict resolution which , with more or less ____________________ mechanisms , occurs in many political and legal spheres . There are two main ____________________ to arbitration . The first is that it is a voluntary process under which two parties in conflict agree between themselves to be ____________________ by the judgment of a third party which has no other ____________________ over them ; the judgment , however , is not legally binding . The second is that there is usually no clear body of ____________________ or set of rules that must apply ; the arbitrator is free , ____________________ to any prior agreement with the conflicting parties , to decide on whatever basis of justice is ____________________ suitable . Arbitration has been used successfully , for example , to decide on ____________________ borders between ____________________ and Egypt , where local history was a major part of the ____________________ decision .