USA HISTORY

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: -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-3: -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-4: -: a complaint filed against a third party by a defendant or plaintiff alleging that the third party is liable for all or part of a claim or counterclaim in dispute between the original parties.

Detailed explanation-5: -Arbitration-the out-of-court resolution of a dispute between parties to a contract, decided by an impartial third party (the arbitrator)-is faster and more cost effective than litigation. AAA cases are often settled prior to the arbitrator’s decision-and nearly half of those cases incur no arbitrator compensation.