MLchartDataset catalogue

Alternative dispute resolution provision

Term · Insurance and risk management · MLC-T-INS-000397

A clause within an insurance policy or contract that mandates or permits the use of non-judicial methods, such as mediation or arbitration, to resolve disputes between the parties. This provision aims to expedite claim resolution and reduce litigation costs. It outlines the specific ADR process to be followed and its binding nature.

Table 1. Record
IdentifierMLC-T-INS-000397
FieldInsurance and risk management
Record as JSON 
{
  "id": "MLC-T-INS-000397",
  "term": "Alternative dispute resolution provision",
  "field": "Insurance and risk management",
  "definition": "A clause within an insurance policy or contract that mandates or permits the use of non-judicial methods, such as mediation or arbitration, to resolve disputes between the parties. This provision aims to expedite claim resolution and reduce litigation costs. It outlines the specific ADR process to be followed and its binding nature.",
  "url": "https://mlchart.com/terminology/insurance/alternative-dispute-resolution-provision/"
}

Record 132 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.