(2) "Arbitrator" means an individual appointed to render an award, alone or with others, in a controversy that is subject to an agreement to arbitrate. Rule 14-1101 - Definitions.As used in this article: (a). The profit from buying something in one market and selling it in another. Like the current Federal Arbitration Act, Utah's old Uniform. For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the federal government, use Form 8038-T, Arbitrage. Generally, anyone who is paid to prepare a return must sign it and fill in the other blanks in the Paid Preparer Use Only area of the return. For rebating arbitrage (or paying a penalty in lieu of arbitrage rebate) to the federal government, use Form 8038-T, Arbitrage. The document seeks to answer two basic questions: (1) How is the City funded? (2) How are those funds spent?