Symbiosis National Aptitude Test SNAP 2018 Paper

There are 4 boards in a business school which have displayed the meaning of the term that means "A process in which an independent person makes an official decision that ends a legal disagreement without the need for it to be solved in court."
Board 1: ARBITRATION
Board 2: ARBITERAXION
Board 3: ARBETRATION
Board 4: ARBITATION
The board that has displayed the correct spelling of the term is Board N o:_____
(Note: DO NOT include spaces in your answer)