Col 3:15 And let the peace of Christ arbitrate in your hearts, to which also you were called in one Body; and be thankful. Rom 8:6 For the mind set on the flesh is death, but the mind set on the spirit is life and peace.
Paul's word about the arbitrating peace of Christ was no doubt written according to his practical experience. If we consider our experience, we shall realize that as Christians we have two or three parties within us. For this reason we need an arbitrator.
An arbitrator is always needed to settle disagreements or disputes between parties. With respect to a certain matter, one of the parties within us may be inclined one way, whereas another party may be inclined the opposite way. Furthermore, a third party may be neutral.
Often we are conscious of three parties within us: a positive party, a negative party, and a neutral party. As Christians, we are more complicated than unsaved people are. Before we were saved, we were under the control of the satanic party.
We could indulge in worldly amusements and entertainments without any sense of controversy within. But now that we are saved, one party may encourage us to do one thing, but another party may encourage us to do something else. Hence, there is the need for inward arbitration to settle the dispute within us.
We need someone or something to preside over the conferences that take place within our being. According to verse 15, this presiding one, this arbitrator, is the peace of Christ. Whenever we sense that different parties within our being are arguing or quarreling, we need to give place to the presiding peace of Christ and allow this peace...to rule within us.
Let this peace have the final word.