Reference no: EM133835101

Question

ARBITRATION One of the most frequently used methods of dispute resolution is arbitration, the resolution of a dispute by a neutral third party outside the judicial setting. Arbitration is frequently used in disagreements between employees and employers, and it is increasingly being used between consumers and businesses. Arbitration is often a voluntary process in that parties have a contractual agreement to arbitrate any disputes. This agreement may stipulate how the arbitrator will be selected and how the hearing will be administered. from this statement which is correct : The parties to a lawsuit can submit their cases to arbitration: Multiple Choice Voluntarily or through a binding agreement between the parties. Through a binding agreement between the parties. After the execution of properly drafted settlement agreement. To appeal a Supreme Court ruling. Voluntarily.Lawyers, professors, and other professionals typically serve as arbitrators. The general qualifications for being an arbitrator are honesty, impartiality, and subject-matter competence. Additionally, arbitrators are expected to follow the Arbitrator's Code of Ethics. Typically, parties choose arbitrators from the Federal Mediation and Conciliation Services (FMCS), a government agency, or the American Arbitration Association (AAA), a private, nonprofit organization.