Examlex
Complete (express answers to nearest hundredth):
Business Regulations
Rules and standards set by governments or regulatory bodies to control and guide the operations, ethics, and practices of businesses within a jurisdiction.
Arbitration
A method of dispute resolution where an impartial third party makes a decision to resolve the conflict, often used as an alternative to litigation.
Binding Decision
A definitive ruling or judgment, usually from a court or tribunal, that is legally required to be followed.
Third Party
An entity or individual that is involved in a transaction or agreement but is not one of the principal parties, often providing services or mediation.
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