Binding arbitration requires the parties to comply with the decision,either by law or by precedent within that sphere of arbitral practice.

Question

Quizplus · Accepted Answer

Binding arbitration means that the parties involved have agreed to abide by the decision made by the arbitrator(s). This decision is typically enforceable by law and must be followed by the parties involved. Precedent within the sphere of arbitral practice may also influence the decision-making process.

Binding Arbitration Requires the Parties to Comply with the Decision,either