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ArbitrationArbitration is a procedure for the resolution of disputes on a private basis through the appointment of an arbitrator, an independent, neutral third person who hears and considers the merits of the dispute and renders a final and binding decision called an award.
A Complete the following text about arbitration with words from the box.
The process is similar to the litigation process as it involves . However, the parties choose their and the manner in which the will proceed. For example, if the . is fairly straightforward and does not involve any factual questions, the parties may agree to waive a formal . and provide the arbitrator with written .. and . only, called a documents only arbitration. However, in other cases the parties may wish a full hearing. Therefore, the parties create their own adjudicatory .. which is tailor-made to the particular .. of the parties and the nature of the dispute. The advantages of arbitration over court adjudication can include the following: ▪ Expertise of the .: The parties can choose an arbitrator who has . knowledge of the law, business or trade in which the dispute has arisen. ▪ Low cost: Arbitration is not . if the process is kept simple. ▪ Speed: Arbitration can be arranged within days, weeks or months. ▪ : Arbitration does not take as long as litigation.
B We have seen the noun 'arbitration' and the verb 'arbitrate'. Now complete the missing words in the table.
Mediation
The most popular form of ADR is mediation. Mediation is a process of dispute resolution focused on effective communication and negotiation skills.
Date: 2015-01-12; view: 2153
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