There is disclosed a system and method for dynamic stabilization which provides for distraction of the inter-vertebral space while still allowing a patient a substantial range of motion. In one embodiment, an inter-vertebral dynamic brace is used to maintain proper distraction. The dynamic brace is designed to allow the vertebrae to which it is attached to move through their natural arc, maintaining the correct instantaneous center of rotation. An adjustable tensioning device is used to maintain the proper distraction and compression forces to restore and maintain proper kinematics, while allowing the dynamic brace to move through an arc centered with respect to the center of rotation of the portion of the spine between the vertebrae. In one embodiment, a method is provided for adjusting the dynamic brace both with respect to the center of rotation of the vertebrae in both the flexion/extension axis and in the superior/inferior axis.