Define arbitration. What is the difference between binding and nonbinding arbitration? What role do arbitration clauses play in the arbitration process?

Name: Define arbitration. What is the difference between binding and nonbinding arbitration? What role do arbitration clauses play in the arbitration process?
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The Answer of Define arbitration. What is the difference between binding and nonbinding arbitration? What role do arbitration clauses play in the arbitration process?

Define Arbitration