Identify a true statement about the law governing arbitration agreements.

A. Arbitration agreements are always binding and cannot be challenged.
B. Parties can generally choose the rules that will govern their arbitration process.
C. Arbitration agreements are not recognized in any legal system.
D. Courts always have the final say in arbitration disputes.

Arbitration agreements involve submitting disputes to a third-party arbitrator for a final decision, which is binding on the parties involved. Unlike mediation, where parties work together to reach a solution, in arbitration, the arbitrator makes the final decision known as the "award." Arbitration is frequently used in union-management grievance conflicts and provides a predetermined resolution without the need for negotiation.

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