Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure.In order to proceed with case administration, the ICDRĀ® must verify, on a threshold level, whether we have the administrative jurisdiction. You may protest if you disagree with the appraisal district value or any of the appraisal district's actions concerning your property. Binding arbitration is defined as a contractual agreement to settle disputes out of court using a neutral third party called an arbitrator. Agreement to Arbitrate. Except as provided in Section 12. Moreover, the class definition excludes those lessors whose lease includes a binding arbitration. Arbitration is a contract-based form of binding dispute resolution.