ABC Corporation and the Union Are Locked in a Dispute

question 113

Multiple Choice

ABC Corporation and the union are locked in a dispute that they cannot resolve by themselves. Ms. Reza Shah, a third party, has been asked to help them with a binding decision. She has informed them that the final settlement will be one that either ABC Corporation or the union offers. What is this settlement an example of?

• A) binding conciliation
• B) compulsory binding arbitration
• C) final offer arbitration
• D) compulsory conciliation

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Definitions:

Health Insurance

is a type of insurance coverage that pays for an individual's medical and surgical expenses or reimburses losses from illness or injury.

Government Insurance

Protection or coverage provided by a governmental entity as opposed to private insurance companies, often for health, employment, or social welfare purposes.

Health Insurance Coverage

A contract between an individual or employer and an insurance company to cover part or all of the healthcare expenses incurred by the insured.

Health Care Spending

The total amount of money spent on medical services, medications, and other health-related products and services.