BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute.

Detailed explanation-2: -Mediation, as used in law, is a form of alternative dispute resolution resolving disputes between two or more parties with concrete effects. Typically, a third party, the mediator, assists the parties to negotiate a settlement.

Detailed explanation-3: -Arbitration In arbitration, a neutral third party serves as a judge who is responsible for resolving the dispute. The arbitrator listens as each side argues its case and presents relevant evidence, then renders a binding decision.

Detailed explanation-4: -Definition: Arbitration is the submission of a disputed matter to an impartial person (the arbitrator) for decision. The Process: Arbitration is typically an out-of-court method for resolving a dispute. The arbitrator controls the process, listens to both sides and makes a decision.

Detailed explanation-5: -Arbitration. In arbitration, which can resemble a court trial, a neutral third party serves as a judge who makes decisions to end the dispute. The arbitrator listens to the arguments and evidence presented by each side, then renders a binding and often confidential decision.