question
Alternate dispute resolution
answer
formal or informal process to settle disputes without trial
question
negotiation
answer
parties make offers and counteroffers (least formal)
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mediation
answer
neutral person attempts to get parties to a voluntary settlement. mediator does not decide on a settlement
question
arbitration
answer
parties vest authority in a 3rd party decision maker who will issue a decision which can be binding
question
federal arbitration act
answer
a federal statue that requires parties to participate in arbitration when they have agreed by contract to do so
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