What do you mean by interest arbitration?

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What do you mean by interest arbitration?

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  • 01 Dec, 2018

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Interest arbitration occurs when the parties do not agree to the terms and conditions of a proposed collective agreement. It may be either voluntary or compulsory. 

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It is a process of resolving the disputes outside the courts. This technique is named as Alternate Dispute Resolution (ADR). The parties to a dispute are bound by the decision of arbitration. The evidence is reviewed by a third party and then he or she executes a decision that is legitimately binding on both the parties and enforceable in the courts.

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