BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Arbitration. Arbitration is a procedure for settling disputes by submitting them to an independent and neutral third party for a final and binding decision, which may be called an “award” or “decision".

Detailed explanation-2: -It involves processes and techniques of conflict resolution without litigation and empowers parties to work together using a framework to amicably settle complex issues. The most common ADR methods are negotiation, mediation, conciliation, arbitration, and private judging.

Detailed explanation-3: -Trade disputes include disputes regarding non-employment. This covers former employees and may cover some prospective employees. There must be some discernible connection between the prospective employee and employer. It may, for example, cover a seasonal worker, who seeks re-employment.

Detailed explanation-4: -Answer 1 : Industrial Dispute means any dispute or differences between employers and employers or between employers and workmen or between workmen and workmen which is connected with the employment or non-employment or the terms of employment or with the conditions of labour of any person.