What are the key differences between conciliation, mediation, and arbitration?

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What are the key differences between conciliation, mediation, and arbitration?


Arbitration
Neutral third party (arbitrator) hears both sides and makes a legally binding decision. Often used in construction disputes.


Mediation
A mediator facilitates negotiation between parties to help them reach a mutual agreement. The mediator does not impose a decision.


Conciliation
Similar to mediation, but the conciliator may propose solutions to help parties settle. Common in labor disputes.

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