Parties that fail to resolve their dispute is mediation will often seek

Parties that fail to resolve their dispute is

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Parties that fail to resolve their dispute is mediation will often seek arbitration. Unlike in mediation, the arbitrator listens as each side argues its case and presents relevant evidence, then renders a binding decision. Unlike the mediation, arbitration will make the decision and both parties state in advance that they will honor whatever decision the arbitration makes. Arbitrators hand down decisions that are usually confidential and that cannot be appealed. Arbitration may be compulsory or voluntary. - Compulsory : the parties are required by law to submit their dispute to a third party, whose decision is final and binding. - Voluntary : the parties voluntarily submit their dispute to a third part, whose decision still in final and binding, such that reneging of mediation, plus the advantage that the disputants can blame the arbitrator if their constituents object to the settlement. *some firms practice sequences of mediation and arbitration. That if they agree upfront that if the mediator cannot settle the issue, it will pass to the arbitrator which usually the same person who served as the mediator.
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