Binding arbitration:
A)requires that a terminated project be completed before damages are awarded.
B)requires empanelment of equal numbers from both the client and project organizations to reach a verdict.
C)should be used to settle disputes only if the principle of caveat emptor does not apply.
D)can settle outstanding claims or disputes provided that all parties agree to its use.

Question

Quizplus · Accepted Answer

Binding arbitration can only be used if all parties involved agree to it. It is a form of alternative dispute resolution that allows for a neutral third party arbitrator to make a binding decision on the outcome of a dispute or claim. Option A and B are not accurate definitions of binding arbitration, and option C is not relevant to the use of binding arbitration.

Binding Arbitration