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Compulsory Binding Arbitration

Definition

A form of alternative dispute resolution that is more formal than mediation but subject to fewer formal rules than a traditional court case. In arbitration, the parties present their cases and a neutral third party, the arbitrator(s), makes a final judgment, which is not appealable. Because it is compulsory, the parties do not have a choice between bringing the dispute in arbitration or a different forum (usually a court of law).

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