Which of the following occurs in a more formal setting before an impartial third party?

Which of the following occurs in a more formal setting before an impartial third party?

• A. Mediation
• B. Negotiation
• C. Arbitration
• D. Conciliation

Answer: (C)

Arbitration is a process that involves resolving disputes through a formal setting where an impartial third party, known as an arbitrator, makes a binding decision based on the evidence and arguments presented by both parties. This process is often established through an agreement prior to the dispute arising, and it provides a structured environment where rules of evidence and procedure may be observed, similar to a court setting. The role of the arbitrator is to listen to both parties, review the relevant information, and then render a decision that is typically enforceable by law. This setting is distinctly more formal than mediation, negotiation, or conciliation, which usually involve more informal dialogue and collaboration between the parties directly, often without a binding decision being rendered by a third party.

Arbitration is a process that involves resolving disputes through a formal setting where an impartial third party, known as an arbitrator, makes a binding decision based on the evidence and arguments presented by both parties. This process is often established through an agreement prior to the dispute arising, and it provides a structured environment where rules of evidence and procedure may be observed, similar to a court setting.

The role of the arbitrator is to listen to both parties, review the relevant information, and then render a decision that is typically enforceable by law. This setting is distinctly more formal than mediation, negotiation, or conciliation, which usually involve more informal dialogue and collaboration between the parties directly, often without a binding decision being rendered by a third party.