Binding arbitration:
A)Requires that a terminated project be completed before damages are awarded.
B)Requires empanelment of equal numbers from both the client and project organizations to reach a verdict.
C)Should be used to settle disputes only if the principle of caveat emptor does not apply.
D)Can settle outstanding claims or disputes provided that all parties agree to its use.

Question

Quizplus · Accepted Answer

Binding arbitration can only be used if all parties agree to its use. It allows for the settlement of outstanding claims or disputes through an impartial third party. It does not require the completion of a terminated project, nor does it involve the empanelment of equal numbers from both the client and project organizations. The principle of caveat emptor, which means "let the buyer beware", is not relevant to the use of binding arbitration.

Binding Arbitration