合同与履行第 831 / 1605 题
Binding arbitration as a method of dispute resolution generally means:
a.A jury trial in superior court
b.A non-binding suggestion the parties can ignore
c.A negotiation with no third party involved
d.A private process in which a neutral arbitrator hears the dispute and issues a decision the parties have agreed to be bound by
解析
In binding arbitration, the parties submit their dispute to a neutral arbitrator (or panel) who hears evidence and renders a decision, the award, that the parties have agreed in advance to accept as final and enforceable, with only very limited grounds for court review. It is a private alternative to litigation, not a jury trial, not a mere non-binding suggestion, and not simple two-party negotiation, which lacks a neutral decision-maker.
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