The arbitration of claims can take several different forms in Pennsylvania, but can be generally categorized as either compulsory judicial arbitration. 1. 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.To make an official decision that ends a legal disagreement between people or groups without the need for the disagreement to be solved in court. Once the court rules on the issues reserved for the court, the arbitrator decides all remaining questions in the dispute (see. What is arbitration? Any type of dispute, claim or controversy arising out of business dealings with any FINRA brokerage firm1 can be resolved in mediation or arbitration.