Dispute resolution definition (noun)
Dispute resolution is the process of settling disagreements between parties. There are three basic types of dispute resolution: mediation, arbitration, and litigation.
- Mediation is where a neutral third party helps the disputing parties reach a solution on their own.
- Arbitration is when a neutral third party acts as a judge who listens to arguments and evidence, then makes a legally binding decision for the parties.
- Litigation is when the dispute reaches a courtroom where a defendant argues against a plaintiff in front of a judge or judge and jury.
Appears in: Terms and Conditions