Asked by GRETE ELISE WAGNER PAR on Jul 04, 2024
Verified
What is the general process of arbitration?
Arbitration Process
A method of dispute resolution where an impartial third party makes a decision to settle the dispute, which is usually binding.
- Understand the general process of arbitration and its implications for dispute resolution.
Verified Answer
IS
Isaiah SorotenJul 09, 2024
Final Answer :
Parties in dispute,after having reached a deadlock or a time deadline without successful resolution of their differences,present their positions to a neutral third party.The third party listens to both sides and then rules on the outcome of the dispute.
Learning Objectives
- Understand the general process of arbitration and its implications for dispute resolution.
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