Question

Mediation is the process in which a neutral third party, a mediator, listens to both sides in a dispute, makes suggestions, and encourages them to agree on a solution. Arbitration is the process in which a neutral third party, an arbitrator, listens to both parties in a dispute and makes a decision that the parties have agreed will be binding on them.

Answer 1

The answer is True

Mediation is the process in which a neutral third party, a mediator, listsens to both sides in a dispute, makes suggestions, and encourages them to agree on a solution. Arbitration is the process in which a neutral third party, an arbitrator, listens to both parties in a dispute and makes a decision that the parties have agreed will be binding on them.

Arbitration is an alternative way to resolve conflicts, whether between individuals or legal entities, without judicial participation. Despite its informal character, an arbitration award has the same effect as a judicial award.