The term arbitration award refers to a decision made by an arbitrator or a panel of arbitrators regarding a dispute. The award is usually binding, final, and enforceable. Some synonyms for arbitration award include verdict, decision, judgment, ruling, settlement, resolution, and determination. Each of these words denotes an authoritative decision made by an impartial adjudicator. Other synonyms include finding, conclusion, and disposition. All of these terms suggest that a decision has been made and that the matter at hand has been resolved. Whether the decision is favorable or unfavorable, an arbitration award is a necessary step in resolving a dispute and moving forward.