Answer:
arbitration
Explanation:
An arbitrator is an independent party called upon by two or more conflicting parties to resolve a dispute. The arbitrator is called to make a decision on some contentious issues. Decisions made by arbitrators are legally binding. The process through which the decision is made is called arbitration.
Arbitration is similar to court cases, only that they occur outside the court buildings. The process is formal and structured. Parties submit information and support their evidence in the hearing, just like in a court of law. The arbitrator makes a decision after reviewing all the information provided.
Arbitration applies in contract, labor, family, and insurance disputes where the parties want to keep matters private.
