Final answer:
An unbiased (neutral) third party in a dispute is an impartial entity that helps resolve conflicts when informal methods fail.
Step-by-step explanation:
An unbiased (neutral) third party assists other parties involved in a dispute towards a resolution, especially when an informal approach has not worked and no internal mechanism is available. This third party is typically disinterested, meaning they are impartial and have no stake in the outcome, hence they ensure that justice is delivered in a timely and professional manner. They also must be accessible, and have adequate resources to help resolve the dispute fairly.
In the context of government bureaucratic oversight, neutral advisors or convenors assist in creating a committee of interested parties to reach a consensus on proposed rules. In politics, third parties contribute to the electoral process by representing ignored groups in society, bringing specific issues to the voters' attention, and providing alternatives to the major two parties, sometimes even affecting election outcomes. Their involvement acts as a safety valve in the political system, ensuring a dynamic representation of the communities they serve.
It's crucial to distinguish between 'disinterested' and 'uninterested' as the former refers to someone who is impartial, while the latter depicts a lack of interest. An effective third party in a dispute resolution process must be disinterested to ensure an impartial and fair outcome.