Contractual arbitration is a means of bypassing the judicial system and is voluntary in the sense that the parties have entered into an agreement to resolve. To act as arbiter upon (a disputed question) : to settle (a dispute between two people or groups) after hearing the arguments and opinions of both.A court may stay arbitration proceedings on a showing that there is no agreement to arbitrate. 42 Pa. C. S. Ā§ 7302 (b). Any type of dispute, claim or controversy arising out of business dealings with any FINRA brokerage firm1 can be resolved in mediation or arbitration.