A method and system for arbitrating access to a component of a computer have been disclosed the method and system include an arbitration unit for granting access to the component; and a plurality of units for executing a plurality of transactions requiring access to the component. Each transaction of the plurality of transactions has an encoded priority. Each of the plurality of units further provide the arbitration unit with the encoded priority of each of the plurality of transactions. The arbitration unit grants a predetermined number of the plurality of units access to the component in response to the encoded priority of each of the predetermined plurality of transactions.