Source : Webster's Revised Unabridged Dictionary (1913)

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.

   2. To decide, or determine generally. --South.

            There shall your swords and lances arbitrate The
            swelling difference of your settled hate. --Shak.

Arbitrate \Ar"bi*trate\, v. i.
   1. To decide; to determine. --Shak.

   2. To act as arbitrator or judge; as, to arbitrate upon
      several reports; to arbitrate in disputes among neighbors;
      to arbitrate between parties to a suit.

Source : WordNet®

arbitrate
     v : act between parties with a view to reconciling differences;
         "He interceded in the family dispute"; "He mediated a
         settlement" [syn: {intercede}, {mediate}, {intermediate},
          {liaise}]