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What Are the Advantages and Disadvantages of Binding Arbitration…

What Are the Advantages and Disadvantages of Binding Arbitration…

Arbitration is a process where parties present their arguments in a hearing format to an arbitrator who makes the decision. By choosing arbitration the parties have given the decision-making authority to the arbitrator. Arbitration can be either binding or nonbinding. In binding arbitration the decision cannot be appealed or over-turned unless the arbitrator showed bias, discrimination, or fraud. If the ...

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