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14th century, in the meaning defined at sense 1
Middle English arbitrement, borrowed from Anglo-French, from arbitrer "to reach a decision, pass judgment" + -ment -ment — more at arbitrage
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“Arbitrament.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/arbitrament. Accessed 3 Jun. 2020.
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