(also called grievance arbitration) A mechanism for providing final and binding resolution to a dispute under a collective agreement.  A neutral third party, the arbitrator, is brought in to hear the case and, either alone or as part of an arbitration panel, to render a decision.  Expedited arbitration, available under the Labour Relations Act, is a speedier version of this process.  Interest arbitration refers to the use of a third party to resolve the terms of the collective agreement itself.