Which of the following best describes the nature of the arbitration process?
A) negotiated resolution with the assistance of a neutral person
B) neutral party makes a decision (usually binding)that resolves a dispute
C) submission to judge for decision-making
D) renegotiation of the contract with the assistance of a judge

Question

Quizplus · Accepted Answer

Arbitration involves a neutral third party, known as an arbitrator, who makes a decision to resolve a dispute between parties. This decision is usually binding, distinguishing it from other forms of dispute resolution like mediation.

Which of the Following Best Describes the Nature of the Arbitration