Final answer:
Mediation, arbitration, and negotiation are three types of alternate dispute resolution methods that provide efficient and fair ways of resolving disputes outside of the traditional court system.
Step-by-step explanation:
Types of Alternate Dispute Resolution
- Mediation: In mediation, a neutral third party assists the disputing parties in reaching a voluntary agreement. The mediator does not make decisions but helps facilitate communication and negotiation.
- Arbitration: Arbitration involves an impartial third party who listens to both sides of the dispute and makes a binding decision. This process is more formal than mediation and the arbitrator's decision is legally enforceable.
- Negotiation: Negotiation is a process where the parties involved directly discuss their disputes and try to reach a mutually acceptable solution. It can be done with or without the assistance of a mediator or arbitrator.
Alternate dispute resolution methods like mediation, arbitration, and negotiation provide efficient and fair ways of resolving disputes outside of the traditional court system. These methods save time and money and allow the parties to have more control over the outcome. Mediation involves a neutral third party facilitating communication, arbitration involves a third party making a binding decision, and negotiation involves direct discussion between the parties to reach a solution.
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