Identify the true statements about arbitration. (Check all that apply.)

A. Arbitration is a method of resolving disputes outside the courts.
B. The decision of the arbitrator is usually binding on both parties.
C. Arbitration can be less formal than a court trial.
D. Parties in arbitration have no say in selecting the arbitrator.
E. Arbitration proceedings are always open to the public.

Arbitration is a third-party intervention process where an arbitrator's final decision is binding. It contrasts with mediation, where parties collaborate to reach a solution.

Explanation:

Arbitration is a type of third-party intervention where parties in conflict agree to abide by the decision of an arbitrator. The arbitrator's decision is final and known as an award. This process differs from mediation, where parties work together to find a solution.

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