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Federal Arbitration Act

Definition - What does Federal Arbitration Act mean?

Federal Arbitration Act is an act that provides judicial assistance and facilatation in cases of private dispute through arbitration. The Federal Arbitration Act is relevant to both state courts and federal courts.

Justipedia explains Federal Arbitration Act

Federal Arbitration Act also requires that when both the parties agree to arbitrate, they should do it in lieu of going to the court. After the arbitrator enters an award, it must then be confirmed by the court. After the confirmation from court, the award is reduced to enforceable judgment, which, like any other judgment is enforced by the winning party.

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