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The Collaborative International Dictionary of English v.0.48:

Arbitrate \Ar"bi*trate\, v. t. [imp. & p. p. Arbitrated; p. pr. & vb. n. Arbitrating.] [L. arbitratus, p. p. of arbitrari to be a hearer or beholder of something, to make a decision, to give judgment, fr. arbiter. See Arbiter.] 1. To hear and decide, as arbitrators; as, to choose to arbitrate a disputed case. [1913 Webster] 2. To decide, or determine generally. --South. [1913 Webster] There shall your swords and lances arbitrate The swelling difference of your settled hate. --Shak. [1913 Webster]