Question

The type of arbitration which involves the selection of a neutral person or panel to hear the bargaining positions of the parties and make a final and binding decision on the inclusions of a negotiated agreement is called:

a. Face-saving arbitration
b. Interest arbitration.
c. Win-win arbitration.
d. Mediation.
e. Conciliation service arbitration.

Answer 1

Interest arbitration is the process where a neutral person or panel hears the bargaining positions of disputing parties and makes a binding decision on the agreement terms, typically used in labor disputes.

Step-by-step explanation:

The type of arbitration described in the question is known as b. Interest arbitration. This process involves the selection of a neutral person or panel to hear the bargaining positions of both parties in a dispute. The arbiter then makes a final and binding decision on the terms of a negotiated agreement. In contrast to other forms such as mediation,

where a mediator helps to facilitate a discussion to help both sides reach a settlement, or conciliation, which involves rebuilding a positive relationship between the parties, interest arbitration leads to a definitive resolution imposed by the arbitrator.Interest arbitration is typically used when a voluntary agreement cannot be reached, and it is essential to resolve a dispute to avoid further disruption, as might be the case in labor disputes.