PUNKIN: Mediation is not arbitration. IMO. Mediation is two parties attempting to come to an agreement with a 3rd party as the mediator. Arbitration is a panel in this case...that will make a binding decision for the two parties.
Punkin, you have it wrong about arbitration. What you have described is mediation, whereby an amicable settlement is reached by the parties or back to the referring agency or Court.
In arbitration the arbitrators can impose their decision on the parties. If the parties decide to settle then they may, if not the arbitrators settle the matter as a final decision maker with the outcome binding on the parties. After an arb decision one rarely then runs to a court of law.
PUNKIN611, you seem to be confusing mediation with Arbitration.
Mediation is a process whereby a neutral person, the mediator, assists the parties in reaching a mutually acceptable resolution to their dispute. The mediator does not have the authority to make a binding decision, unlike arbitration, where the arbitrator renders a decision that is final and binding.
The above excerpt was taken from the following site...
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