Final answer:
Arbitration is the dispute resolution process where both sides present their case to an arbitrator who makes a usually binding decision. It is often chosen for its privacy and speed compared to court litigation. so, option a is the correct answer.
Step-by-step explanation:
The dispute resolution process held instead of court cases in which both sides present their case to a legal professional is known as arbitration. In arbitration, an arbitrator, who is often a legal expert, listens to both sides and then makes a decision that is usually binding. This is different from mediation, where a mediator helps the parties to reach a mutually agreeable solution without giving a decision, and conciliation, which is similar to mediation but may include recommendations from the conciliator. Arbitration is chosen for a variety of cases, particularly when the parties involved want a private and potentially faster resolution than what might be achieved through litigation in the courts. It is essential to note that arbitration might be obligatory if included as a clause in a contract between the parties before any dispute arises.