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. § 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.