Answer:
The settlement technique in which a third-party reviews a case and imposes a decision that is legally binding for both sides is called arbitration.
Step-by-step explanation:
Arbitration is a method of conflict resolution that involves a third party listening to the conflict between two parties and acting as a judge to deliver a decision that is legally binding. The arbitrator listens to both sides as they present their respective cases and evidences and then makes a judgement which cannot be appealed by either party.
Arbitration is a much cheaper alternative to litigation which involves going before a judge or a judge and jury.