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Which of the following is a difference between arbitration and mediation

Question: Which of the following is a difference between arbitration and mediation?

• Arbitration is an informal method of dispute resolution, whereas mediation is a formal method of dispute resolution.

• The decision of an arbitrator is nonbinding, whereas the decision of a mediator is binding.

• An arbitrator is authorized to issue an award, whereas a mediator can only assist in reaching a settlement.

• The role of an arbitrator is merely to assist parties in reaching a settlement, whereas the role of a mediator is similar to the role of a trial judge.

 

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