Want this question answered?
The source of an arbitrator's authority comes from the parties to the dispute being arbitrated. Both parties agree that their dispute will be settled through arbitration rather than through litigation and they enter into a contract promising that the arbitration will be binding they will abide by the decision of the arbitrator. If one party refuses to honor the arbitrator's decision, the other party can go to court and have the court enforce the arbitration decision, but it won't have to litigate the actual dispute all over again.
Negotiation can involve just the parties to a dispute without their attorneys, often in an attempt to find a resolution informally and directly. However, in more complex cases or when legal expertise is needed, attorneys may be involved in the negotiation process to provide guidance and ensure that the parties' rights are protected.
Bipartite bodies in a dispute settlement is an agreement between two parties. Tripartitie bodies is an agreement between three parties involved in a settlement.
a referee, an arbitrator
The remaining disputed legal issue between two parties in an action is known as the "legal question" or "controversy." It represents the specific point of contention that the court must resolve in order to reach a decision in the case.
Accord and Satisfaction refers to when there is a dispute between two parties, both parties compromise to reach a settlement that is acceptable to both parties.
Two alternative dispute resolution (ADR) methods are arbitration and mediation. Arbitration is where the dispute is given to a third party who makes a ruling on which party is correct. Arbitration may be binding or non binding depending on the agreement of the parties. The other method is mediation where the parties explain their dispute to a third party who works with both sides together to find a settlement to which both parties agree. The mediator makes no decision that binds the parties.
arbitration
Mediator. A mediator is a neutral third-party that hears both sides of a dispute and works with both parties to find a mutually acceptable agreement. Mediators do not have the authority to settle disputes; only to make recommendations (which are not binding to the parties).
A dispute settlement process is a procedure used to resolve conflicts or disagreements between parties. It typically involves negotiating, mediating, or seeking arbitration or legal action to find a resolution acceptable to all parties involved. The aim is to reach a mutually satisfactory outcome and avoid prolonged conflicts.
The arbitration panel listens to both sides of a dispute. They encourage discussion and negotiation between the two disputing parties, but if the two parties do not come to a conclusion the panel will make the final decision in the case.
That is normally called "arbitration"