Which method of conflict resolution is a formal process in which both parties agree to abide by the decision of a third party?

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Arbitration is a formal process in which both parties agree to abide by the decision of a third party. In arbitration, a neutral third party listens to both sides of the dispute and makes a decision that is usually legally binding. This method is often used in cases where both parties want a resolution without having to go to court.

Which Method of Conflict Resolution Is a Formal Process in Which