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Among the three types of alternative dispute resolutions- arbitration, conciliation and mediation, the award is binding in the following
Arbitration
Conciliation
Mediation
None of these
- Arbitration:
- In arbitration, a neutral third party (arbitrator) listens to both sides and makes a decision.
- The decision, known as an "award," is typically binding on the parties.
- Correct Answer: Option 1
- Conciliation:
- A conciliator helps the parties to a dispute to reach a mutual agreement.
- The outcome is not binding unless the parties agree to make it so.
- Mediation:
- A mediator facilitates dialogue between parties to help them reach a voluntary agreement.
- The agreements reached are not automatically binding.
- None of these:
- This is not the correct option as arbitration awards are binding.
By: Parvesh Mehta ProfileResourcesReport error
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