Mandatory Binding Arbitration

No matter what....even if you both hate the outcome of the judge you hired outside of the normative legal system to adjudicate your case...you'll be bound by that decision. The arbitration hearing will be binding, mandatorily, and you'll both have to follow it. No appeal. No sidebars. No tweaks. That's it.

So be careful who you hire to wear the black robes if you go this route.

Find other enlightening terms in Shmoop Finance Genius Bar(f)