Summary

In conciliation or similar forms of dispute settlement, a person chosen by the parties to a dispute assists them in finding agreement on the solution for their dispute. In arbitration, the person whom the parties have chosen decides for them how the dispute must be resolved. Since, in many respects, the best solution to a dispute is the one which both parties accept voluntarily, there are distinct advantages in conciliation: The difficulty is that the conciliator does not always succeed, so that only a binding decision by a third party can eventually resolve the dispute. A ...