American Arbitration Service

The independent, nonprofit organization that provides panels for industrial and commercial disputes. The decisions are binding. The AAS has also developed administrative services that are available to both sides in a dispute. Arbitration in the US is required by many federal and state laws, but it often takes place through voluntary agreements. Trade associations also provide services for settling disputes among members, and many companies have arbitration systems written into their bylaws or constitutions. Nationally, the Taft–Hartley Act (1947) provides for fact-finding boards for arbitration in case strikes are imminent, but those decisions are not binding.