In _____________,the third party has the authority to impose a settlement on the parties.

Question

Quizplus · Accepted Answer

In arbitration, the third party (an arbitrator or panel of arbitrators) has the power to make a final and binding decision or award, which the parties are obligated to accept. This distinguishes it from conciliation or mediation, where the third party helps the parties come to a mutually acceptable agreement but does not have the authority to impose a settlement. "Dictation" is not a term commonly used in the context of dispute resolution.

In _____________,The Third Party Has the Authority to Impose a Settlement