Final answer:
The term for the type of dispute resolution where a neutral third party helps parties resolve their dispute is called mediation. This process is an alternative to courtroom procedures and relies on the impartiality and cooperation-oriented skills of the mediator to achieve a resolution.
Step-by-step explanation:
The type of dispute resolution where two parties agree to have a neutral third-party assist in resolving their disagreement is known as mediation. Mediation is a process that involves a disinterested, or impartial, mediator who facilitates the conversation between the disputing parties, helping them to find a mutually acceptable resolution. It is an alternative to going to court and relies on the cooperation of both parties. When an informal approach hasn't worked and no internal mechanism is available, bringing in a neutral third-party like a mediator can be beneficial. Mediation offers an accessible and impartial dispute resolution method, greatly valued in situations where justice needs to be delivered in a timely manner by competent and ethical representatives without the formality of the court system.
Moreover, in more formal settings such as governmental bureaucratic oversight or negotiated rulemaking, neutral advisors or convenors might also engage in similar roles to mediators, aiming for consensus among parties with vested interests. Throughout this process, parties engage in political bargaining to navigate existing rules and realities, often seeking to reach general consensus without resorting to adversarial judicial systems, which require disclosure of evidence and are generally more combative and resource-intensive than mediation.