Disscuss the Differences between Arbitration and Conciliation
Below are the Differences between Arbitration and Conciliation Arbitration Conciliation Arbitration is a method of resolving disputes in which a neutral third party is chosen to examine the facts and merits of a disagreement and render a binding judgment on the parties. Conciliation is a method in which disputing parties, with the help of a dispute resolution practitioner, Examine the topics in dispute, create ideas and possibilities for a favorable settlement term, consider alternatives, and try to reach a mutual agreement. Arbitration can be used if all parties to the dispute must have agreed to it beforehand. The conciliator’s key role is to support mediation and advocate for a mutual settlement of disputes, as well as to produce choices and examine alternatives. The arbitration may be ordered by a court or stipulated in a contract. Conciliation has the added advantage ...