Ralph Richards has been attempting to solve a problem that his company has with a contract default by the Dutch government.He has tried conciliation but the two parties could never find any common ground on which to begin a fruitful negotiation for settlement.Which of the following will most likely be the course of action that both of the two parties will try next?

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Quizplus · Accepted Answer

Since conciliation did not work, the next step would be to try a more formal method of dispute resolution. Mediation and informal settlement are also options, but arbitration is a more structured and binding process. Litigation and coercion are usually considered last resorts and are generally more time-consuming and expensive than arbitration.

Ralph Richards Has Been Attempting to Solve a Problem That